Commonwealth Numbered Acts

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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 1309

False information etc.

(1) An officer of a corporation who makes available or gives information, or authorises or permits the making available or giving of information, to:

(a)
a director, auditor, member, debenture holder or trustee for debenture holders of the corporation; or

(b)
if the corporation is taken for the purposes of Chapter 2M to be controlled by another corporation—an auditor of the other corporation; or

(c)
a securities exchange in Australia or elsewhere or an officer of such a securities exchange;

being information, whether in documentary or any other form, that relates to the affairs of the corporation and that, to the knowledge of the officer:

(d)
is false or misleading in a material particular; or

(e)
has omitted from it a matter or thing the omission of which renders the information misleading in a material respect;

is guilty of an offence.

(2) An officer of a corporation who makes available or gives information, or authorises or permits the making available or giving of information, to:

(a)
a director, auditor, member, debenture holder or trustee for debenture holders of the corporation; or

(b)
if the corporation is taken for the purposes of Chapter 2M to be controlled by another corporation—an auditor of the other corporation; or

(c)
a securities exchange in Australia or elsewhere or an officer of such a securities exchange;

being information, whether in documentary or any other form, relating to the affairs of the corporation that:

(d)
is false or misleading in a material particular; or

(e)
has omitted from it a matter or thing the omission of which renders the information misleading in a material respect;

without having taken reasonable steps to ensure that the information:

(f)
was not false or misleading in a material particular; and

(g)
did not have omitted from it a matter or thing the omission of which rendered the information misleading in a material respect;

is guilty of an offence.

(3) The references in subsections (1) and (2) to a person making available or giving, or authorising or permitting the making available or giving of, information relating to the affairs of a corporation include references to a person making available or giving, or authorising or permitting the making available or giving of, information as to the state of knowledge of that person with respect to the affairs of the corporation. (4) Where information is made available or given to a person referred to in paragraph (1)(a), (b) or (c) or (2)(a), (b) or (c) in response to a question asked by that person, the question and the information are to be considered together in determining whether the information was false or misleading. (5) A person must not, for the purposes of this Act, lodge with a futures exchange, a clearing house for a futures exchange, or a futures association, a document that contains a statement that, to the person's knowledge, is false or misleading.



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