Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 259F

Consequences of failing to comply with section 259A or 259B

             (1)  If a company contravenes section 259A or subsection 259B(1):

                     (a)  the contravention does not affect the validity of the acquisition or security or of any contract or transaction connected with it; and

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

             (2)  Any person who is involved in a company's contravention of section 259A or subsection 259B(1) contravenes this subsection.

Note 1:       Subsection (2) is a civil penalty provision (see section 1317E).

Note 2:       Section 79 defines involved .

             (3)  A person commits an offence if they are involved in a company's contravention of section 259A or subsection 259B(1) and the involvement is dishonest.

   



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