Corporations (Repeals, Consequentials and Transitionals) Act 2001 (Incorporating amendments up to Act No. 116 of 2003) (55 of 2001)

Schedule 6   Criminal Code related amendments

Corporations Act 2001

5   At the end of section 601FC

Add:

(5) A responsible entity who contravenes subsection (1), and any person who is involved in a responsible entity’s contravention of that subsection, contravenes this subsection.

Note 1: Section 79 defines involved .

Note 2: Subsection (5) is a civil penalty provision (see section 1317E).

(6) A person must not intentionally or recklessly be involved in a responsible entity’s contravention of subsection (1).

(7) For the purposes of subsection (6), a person is taken to be reckless if:

(a) the person is aware of a substantial risk that anything done or not done by the person will constitute a contravention of subsection (6); and

(b) having regard to the circumstances known to the person, it is unjustifiable to take the risk.

(8) The question whether taking a risk is unjustifiable is one of fact.