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CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT 2006 - SECT 284.5 Consequences of breach

CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT 2006 - SECT 284.5

Consequences of breach

  (1)   If the corporation or entity contravenes section   284 - 1:

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

  (b)   the corporation or entity does not commit an offence.

Note:   A Court may order an injunction to stop the corporation or entity giving the benefit to the related party (see section   576 - 25).

  (2)   A person contravenes this subsection if they are involved in a contravention of section   284 - 1 by a corporation or entity.

Note 1:   This subsection is a civil penalty provision (see section   386 - 1).

Note 2:   Section   694 - 55 defines involved in .

  (3)   A person commits an offence if they are involved in a contravention of section   284 - 1 by a corporation or entity and the involvement is dishonest.

Penalty:   2,000 penalty units or imprisonment for 5 years, or both.