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 2D - OFFICERS AND EMPLOYEES
History
Chapter 2D substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).
PART 2D.2 - RESTRICTIONS ON INDEMNITIES, INSURANCE AND TERMINATION PAYMENTS
History
Part 2D.2 substituted by No 156 of 1999, Sch 1 (effective 13 March 2000).
Division 2 - Termination payments
SECTION 200J
BENEFITS TO BE HELD IN TRUST FOR COMPANY
200J(1)
[Creation of trust]
If giving a benefit to a person contravenes section 200B, then:
(a)
if the benefit is a payment - the amount of the payment; or
(b)
otherwise - the money value of the prescribed benefit;
is taken to be received by the person in trust for the company concerned.
200J(2)
[Section applies to whole amount]
Subsection (1) applies to the whole of the amount of a payment or of the money value of the benefit even though giving the benefit would not have contravened section 200B if that amount or value of the benefit had been less.
History
S 200J inserted by No 156 of 1999, Sch 1 (effective 13 March 2000).
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