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CORPORATIONS ACT 2001 - SECT 209 Consequences of breach

CORPORATIONS ACT 2001 - SECT 209

Consequences of breach

  (1)   If the public company or entity contravenes section   208:

  (a)   the contravention does not affect the validity of any contract or transaction connected with the giving of the benefit; and

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

Note:   A Court may order an injunction to stop the company or entity giving the benefit to the related party (see section   1324).

  (2)   A person contravenes this subsection if they are involved in a contravention of section   208 by a public company or entity.

Note 1:   This subsection is a civil penalty provision.

Note 2:   Section   79 defines involved .

Note 3:   This section has an extended operation in relation to a retail CCIV: see section   1227A.

  (3)   A person commits an offence if they are involved in a contravention of section   208 by a public company or entity and the involvement is dishonest.

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