Banking Act 1959
Offence - person knows the information is false or misleading etc.
(1)
A person commits an offence if:
(a) the person is an employee or officer of a body corporate that is an ADI or authorised NOHC; and
(b) the person gives information, or allows information to be given, to an auditor of the body corporate; and
(c) the information relates to the affairs of the body corporate; and
(d) the person knows that the information:
(i) is false or misleading in a material particular; or
(ii) is missing something that makes the information misleading in a material respect.
Penalty: Imprisonment for 5 years or 200 penalty units, or both.
Offence - person fails to ensure the information is not false or misleading etc.
(2)
A person commits an offence if:
(a) the person is an employee or officer of a body corporate that is an ADI or authorised NOHC; and
(b) the person gives information, or allows information to be given, to an auditor of the body corporate; and
(c) the information relates to the affairs of the body corporate; and
(d) the information:
(i) is false or misleading in a material particular; or
(ii) is missing something that makes the information misleading in a material respect; and
(e) the person did not take reasonable steps to ensure that the information:
(i) was not false or misleading in a material particular; or
(ii) was not missing something that makes the information misleading in a material respect.
Penalty: Imprisonment for 2 years or 100 penalty units, or both.
Determining whether information is false or misleading
(3)
If information is given to the appointed auditor in response to a question asked by the appointed auditor, the information and the question must be considered together in determining whether the information is false or misleading.
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