New South Wales Consolidated Acts

YEAR 2000 INFORMATION DISCLOSURE ACT 1999 - SECT 11

11 False or misleading statement exception: imputed knowledge

(1) If, in any proceedings arising out of section 9 (1) (a), it is necessary to establish:

(a) whether a corporation knew that a Year 2000 disclosure statement was false or misleading in a material particular, or

(b) whether a corporation was reckless as to whether a Year 2000 disclosure statement was false or misleading in a material particular,

it is sufficient to show that:

(c) a director, employee or agent of the corporation engaged in conduct in relation to the Year 2000 disclosure statement, and

(d) the director, employee or agent was, in engaging in that conduct, acting within the scope of his or her actual or apparent authority, and

(e) the director, employee or agent:

(i) knew that the Year 2000 disclosure statement was false or misleading in a material particular, or

(ii) was reckless as to whether the Year 2000 disclosure statement was false or misleading in a material particular,

as the case may be.

(2) If, in any proceedings arising out of section 9 (1) (a), it is necessary to establish:

(a) whether a person other than a corporation knew that a Year 2000 disclosure statement was false or misleading in a material particular, or

(b) whether a person other than a corporation was reckless as to whether a Year 2000 disclosure statement was false or misleading in a material particular,

it is sufficient to show that:

(c) an employee or agent of the person engaged in conduct in relation to the Year 2000 disclosure statement, and

(d) the employee or agent was, in engaging in that conduct, acting within the scope of his or her actual or apparent authority, and

(e) the employee or agent:

(i) knew that the Year 2000 disclosure statement was false or misleading in a material particular, or

(ii) was reckless as to whether the Year 2000 disclosure statement was false or misleading in a material particular,

as the case may be.

(3) A reference in this section to a "director" includes a reference to a constituent member of a body corporate incorporated for a public purpose by a law of the Commonwealth, a State or a Territory.