Corporations Act 2001

If a target becomes aware of:

a misleading or deceptive statement in the target’s statement; or

an omission from the target’s statement of information required by section 638; or

a new circumstance that:

has arisen since the target’s statement was lodged; and

would have been required by section 638 to be included in the target’s statement if it had arisen before the target’s statement was lodged;

The target must then send and lodge the supplementary target’s statement in accordance with section 647.

Section 670A makes it an offence to give a target’s statement after the target has become aware of a misleading or deceptive statement, omission or new circumstance that is material from the point of view of a holder of securities to whom the statement is given (unless the deficiency is corrected).

The power to issue a supplementary target’s statement is not limited to the situations dealt with in this section.

This section applies to a target’s statement that has already been previously supplemented.

For an offence based on subsection (1), strict liability applies to the conduct, that the target must prepare a supplementary target’s statement that remedies the defect.

For strict liability, see section 6.1 of the Criminal Code.