THE CORPORATIONS LAW

CHAPTER 2D - OFFICERS AND EMPLOYEES

PART 2D.2 - RESTRICTIONS ON INDEMNITIES, INSURANCE AND TERMINATION PAYMENTS

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.