Treasury Laws Amendment (Strengthening Corporate and Financial Sector Penalties) Act 2019 (17 of 2019)

Schedule 1 Amendment of the Corporations Act 2001

Add:

Civil liability

(4) A person contravenes this subsection if:

(a) the person contravenes subsection (1); and

(b) either:

(i) the misleading or deceptive statement; or

(ii) the omission or new circumstance;

is materially adverse from the point of view of the holder of securities to whom the document is given.

Note: This subsection is a civil penalty provision (see section 1317E).