Corporations Act 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.8 - OFFENCES  

Note: This Part applies to a sub-fund of a CCIV in a modified form: see Division 7 of Part 8B.6 .

SECTION 596   FRAUDS BY OFFICERS  

596(1)    

A person who, while an officer or employee of a company:

(a)    by false pretences or by means of any other fraud, induces a person to give credit to the company or to a related body corporate; or

(b)    

with intent to defraud the company or a related body corporate, or members or creditors of the company or of a related body corporate, makes or purports to make, or causes to be made or to be purported to be made, any gift or transfer of, or security interest in, or causes or connives at the levying of any execution against, property of the company or of a related body corporate; or

(c)    with intent to defraud the company or a related body corporate, or members or creditors of the company or of a related body corporate, engages in conduct that results in the concealment or removal of any part of the property of the company or of a related body corporate after, or within 2 months before, the date of any unsatisfied judgment or order for payment of money obtained against the company or a related body corporate;

contravenes this section.

Note: This section applies to a CCIV in a modified form: see section 1238F .

596(2)    

Absolute liability applies to so much of an offence based on paragraph (1)(c) as requires that an event occur after, or within 2 months before, the date of any unsatisfied judgment or order for payment of money obtained against the company or a related body corporate.

Note: For absolute liability , see section 6.2 of the Criminal Code .