Corporations Act 2001

A person (the first person) contravenes this subsection if:

the target gives the bidder information under section 641 in relation to another person; and

the first person:

is the bidder; or

obtains the information from the bidder (whether directly or indirectly); and

the first person uses or discloses the information; and

the use or disclosure is not for the purposes of sending a document, or otherwise complying with an obligation under this Act, in relation to:

the takeover bid; or

a compulsory acquisition of securities under Part 6A.1 relating to the takeover bid.

for an individual—2,000 penalty units; and

for a body corporate—10,000 penalty units.

Subsection (1) does not apply if the use or disclosure is required or permitted by a law of the Commonwealth or a prescribed law of a State or internal Territory.

A person who contravenes subsection (1) is not guilty of an offence.

Subsection (1) is a civil penalty provision (see section 1317E).