CORPORATIONS ACT 2001 - SECT 259F Consequences of failing to comply with section 259A or
CORPORATIONS ACT 2001 - SECT 259F
Consequences of failing to comply with section 259A or(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.