259F

Consequences of failing to comply with section 259A or 259B

In force

(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.

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