THE CORPORATIONS LAW

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 2M - FINANCIAL REPORTS AND AUDIT

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Chapter 2M inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).

PART 2M.7 - SANCTIONS FOR CONTRAVENTIONS OF CHAPTER

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Part 2M.7 inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).

SECTION 344   CONTRAVENTION OF PART 2M.2 OR 2M.3  

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CCH Note: No 156 of 1999 purported to amend sec 344 by adding the words ``a person commits an offence if they contravene subsection (1) and the contravention is dishonest'' at the end of the section. As it was not clear how this phrase follows from the wording of the section, we have not made the amendment.

344(1)  (Reasonable steps)  

A director of a company, registered scheme or disclosing entity contravenes this section if they fail to take all reasonable steps to comply with, or to secure compliance with, Part 2M.2 or 2M.3.

Note:

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

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S 344(1) (Note) amended by No 156 of 1999, Sch 3, Pt 7 (effective 13 March 2000).

S 344(1) inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).

344(2)  [Exceptions]  

Subsection (1) does not apply to section 310, 312, 323A or 323B.

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S 344(2) inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).

344(3)  [Director]  

This section does not affect the application of the provisions of Part 2M.2 or 2M.3 to a director as an officer.

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S 344(3) inserted by No 61 of 1998, Sch 1 (effective 1 July 1998).

S 344 amended by No 61 of 1998, Sch 2, Pt 1 (effective 1 July 1998).

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