CCH Note:
Part 13 of the
Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW
82
The Corporations Law is as follows:...
CHAPTER 2C - REGISTERS
History
Chapter 2C inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).
SECTION 177
USE OF INFORMATION ON REGISTERS
177(1)
[Prohibited uses]
A person must not:
(a)
use information about a person obtained from a register kept under this Chapter to contact or send material to the person; or
(b)
disclose information of that kind knowing that the information is likely to be used to contact or send material to the person;
unless that use or disclosure of the information is:
(c)
relevant to the holding of the interests recorded in the register or the exercise of the rights attaching to them; or
(d)
approved by the company or scheme.
Note:
An example of using information to send material to a person is putting a person's name and address on a mailing list for advertising material.
CCH Note:
S 216J(1)(c) (now s 177(1)(c)) was replaced by No 61 of 1998, Sch 2. The replaced (c) had read ``relevant to the holding of the shares, options or debentures concerned or the exercise of the rights attaching to them''. As detailed in the
History
, the new section was then renumbered to s 177(1)(c). No 62 of 1998, Sch 2, Pt 1, purported to amend this section by inserting ``interests'' after ``the shares''. As the words ``the shares'' do not appear in the current s 177(1)(c), this amendment could not be made.
History
S 177(1) amended by No 62 of 1998, Sch 2, Pt 1 (effective 1 July 1998).
S 177(1) renumbered from s 216J(1) and amended by No 61 of 1998, Sch 3 (effective 1 July 1998).
177(2)
[Compensation]
A person who contravenes subsection
(1) is liable to compensate anyone else who suffers loss or damage because of the contravention.
History
S 177(2) renumbered from s 216J(2) by No 61 of 1998, Sch 3 (effective 1 July 1998).
177(3)
[Profit is debt to company]
A person who makes a profit from a contravention of subsection
(1) owes a debt to the company or the scheme. The amount of the debt is the amount of the profit.
History
S 177(3) amended by No 62 of 1998, Sch 2, Pt 1 (effective 1 July 1998).
S 177(3) renumbered from s 216J(3) by No 61 of 1998, Sch 3 (effective 1 July 1998).
177(4)
[Recovery of debt]
If a person owes a debt under subsection
(3) to the scheme:
(a)
the debt may be recovered by the responsible entity as a debt due to it; and
(b)
any amount paid or recovered in respect of the debt forms part of the scheme property.
History
S 177(4) inserted by No 62 of 1998, Sch 2, Pt 1 (effective 1 July 1998).
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