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

Schedule 1   Amendment of the Corporations Act 2001

Part 1   Amendments

Corporations Act 2001

38   At the end of section 728

Add:

Civil liability if statement, omission or new matter materially adverse

(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 an investor.

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