Commonwealth Numbered Acts

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CORPORATIONS ACT 2001 - SECT 200J

Benefits to be held in trust for company

(1) If giving a benefit to a person contravenes section 200B, then:

(a)
if the benefit is a payment—the amount of the payment; or

(b)
otherwise—the money value of the prescribed benefit;

is taken to be received by the person in trust for the company concerned.

(2) Subsection (1) applies to the whole of the amount of a payment or of the money value of the benefit even though giving the benefit would not have contravened section 200B if that amount or value of the benefit had been less.


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