Commonwealth Numbered 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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