Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 209

Consequences of breach

             (1)  If the public company or entity contravenes section 208:

                     (a)  the contravention does not affect the validity of any contract or transaction connected with the giving of the benefit; and

                     (b)  the public company or entity is not guilty of an offence.

Note:          A Court may order an injunction to stop the company or entity giving the benefit to the related party (see section 1324).

             (2)  A person contravenes this subsection if they are involved in a contravention of section 208 by a public company or entity.

Note 1:       This subsection is a civil penalty provision.

Note 2:       Section 79 defines involved .

             (3)  A person commits an offence if they are involved in a contravention of section 208 by a public company or entity and the involvement is dishonest.



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