Corporations Act 2001

CHAPTER 2J - TRANSACTIONS AFFECTING SHARE CAPITAL  

Note: This Chapter is modified for CCIVs: see Division 2 of Part 8B.4 .

PART 2J.2 - SELF-ACQUISITION AND CONTROL OF SHARES  

Note: This Part applies to a CCIV with modifications: see sections 1231J and 1231K .

SECTION 259F   CONSEQUENCES OF FAILING TO COMPLY WITH SECTION 259A OR 259B  

259F(1)   [ Effect of 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 in contravention]  

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)   [ Offence]  

A person commits an offence if they are involved in a company's contravention of section 259A or subsection 259B(1) and the involvement is dishonest.


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.