Document ID: chunk:federal_register_of_legislation:C2025C00185:clause:4_34
Version: federal_register_of_legislation:C2025C00185
Segment Type: clause
Provision Reference: sch 4 cl 34
Character Range: 6617222–6618327

34  Unconscionable conduct in relation to demutualisations
 (1) A person must not engage in:
 (a) conduct that is, in all the circumstances, unconscionable; or
 (b) conduct that is misleading or deceptive or is likely to mislead or deceive;
in relation to:
 (c) a modification of the constitution of an unlisted company that is a modification to which this Part applies; or
 (d) anything done in reliance on, in conjunction with or in connection with the modification.
 (2) In determining whether a person has engaged in conduct that contravenes paragraph (1)(a), have regard to:
 (a) whether the person, or someone acting for the person, exerted undue influence or pressure on, or used unfair tactics against, members of the company; and
 (b) whether the person, or someone acting for the person, engaged in conduct that resulted in a member or someone else gaining, or being in a position to gain, a benefit that the members generally did not, or would not be in a position to, gain.
This subclause does not limit subclause (1).
 (3) A person who contravenes subclause (1) is not guilty of an offence.