Document ID: chunk:federal_register_of_legislation:C2025C00185:section:260d
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 260D
Character Range: 930970–931643

260D  Consequences of failing to comply with section 260A
 (1) If a company provides financial assistance in contravention of section 260A:
 (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.
 (2) 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.
 (3) A person commits an offence if they are involved in a company's contravention of section 260A and the involvement is dishonest.