Offence—insurer to tell MAI commission of bidder’s statement or target’s statement

Current

(1)

A person commits an offence if the person—

(a)

is a licensed insurer; and

(b)

receives a bidder’s statement or target’s statement; and

(c)

does not tell the MAI commission about the statement, in writing, within 21 days after the licensed insurer receives the statement.

Maximum penalty: 100 penalty units.

Note

Penalties imposed under this Act must be paid into the nominal defendant fund (see s 330).

(2)

In this section:

bidder’s statement—see the Corporations Act, section 9.

target’s statement—see the Corporations Act, section 9.

Research tools for this sectionSubscription

The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.