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 LAWTHE CORPORATIONS LAW 82 The Corporations Law is as follows:...
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] 259A or subsection 259B(1) and the involvement is dishonest.