Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

CORPORATIONS ACT 2001 - SECT 260D

Consequences of failing to comply with section 260A

             (1)  If a company provides financial assistance in contravention of section 260A:

                     (a)  the contravention does not affect the validity of the financial assistance 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 260A 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 260A and the involvement is dishonest.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback