THE CORPORATIONS LAW

CHAPTER 2J - TRANSACTIONS AFFECTING SHARE CAPITAL

PART 2J.2 - SELF-ACQUISITION AND CONTROL OF SHARES

SECTION 259F   CONSEQUENCES OF FAILING TO COMPLY WITH SECTION 259A OR 259B  

259F(1)  [Contravention]  

If a company contravenes section 259A or subsection 259B(1):

(a)  the contravention does not affect the validity of the acquisition or security or of any contract or transaction connected with it; and

(b)  the company is not guilty of an offence.

259F(2)  [Person involved]  

Any person who is involved in a company's contravention of section 259A or subsection 259B(1) contravenes this subsection.

Note 1:

Subsection (2) is a civil penalty provision (see section 1317E).

Note 2:

Section 79 defines involved .

259F(3)  [Dishonest involvement]  

A person commits an offence if they are involved in a company's contravention of section 259A or subsection 259B(1) and the involvement is dishonest.


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.