Corporations Act 2001
Note: This Part does not apply to a CCIV: see section 1231L .
(a) the contravention does not affect the validity of the financial assistance or of any contract or transaction connected with it; and
(b) the company is not guilty of an offence. 260D(2) [ Person involved in contravention]
Any person who is involved in a company's contravention of section 260A contravenes this subsection.
Note 1: Subsection (2) is a civil penalty provision (see section 1317E).
Note 2: Section 79 defines involved .260D(3) [ Offence]
A person commits an offence if they are involved in a company's contravention of section 260A and the involvement is dishonest.