Document ID: chunk:federal_register_of_legislation:C2004A02825:body:0:p57
Version: federal_register_of_legislation:C2004A02825
Segment Type: other
Provision Reference: 
Character Range: 139648–142197

order under this section in relation to any of the shares if it is satisfied—
     (a) that, at the time when the person received the notice, the information that the notice required him to furnish to the company appeared on a register kept by the company pursuant to section 143 or 261; or
     (b) that the giving of the notice was for any reason frivolous or vexatious.
"(10) Where a person has failed to comply with sub-section 261 (7) or (8) in relation to shares in a company, the Court shall not make an order under this section in relation to any of the shares, other than an order referred to in paragraph (2) (b) or (g), if it is satisfied—
     (a) that the failure was due to the person's inadvertence or mistake; and
     (b) that, in all the circumstances, the failure ought to be excused.
"(11) The Court may, before making an order under sub-section (1), direct that notice of the application be given to such persons as it thinks fit or direct that notice of the application be published in such manner as it thinks fit, or both.
"(12) The Court may rescind, vary or discharge an order made by it under this section or suspend the operation of such an order.
"(13) A person who contravenes or fails to comply with an order under this section that is applicable to him is guilty of an offence.
Penalty: $1,000 or imprisonment for 3 months, or both.
"(14) Where an offence under sub-section (13) is committed by a corporation, each officer of the corporation who is in default is guilty of an offence.
Penalty: $1,000 or imprisonment for 3 months, or both.
"(15) Where a share or an interest in a share vests in the Commission by virtue of an order under sub-section (1) or of a direction under sub-section (7)—
     (a) the Commission may, subject to any directions of the Court, get in, sell or otherwise dispose of, or deal with, the share or interest as it sees fit;

     (b) the provisions of section 462 (other than sub-section 462 (1)) apply in relation to the share or interest as if—
          (i) a reference in those provisions to the power of the Commission under sub-section 462 (1), or to the power conferred upon the Commission by sub-section 462 (1), were a reference to the power conferred on the Commission by paragraph (a) of this sub-section;
          (ii) a reference in those provisions to property, or to an estate or interest in property, were a reference to the share or interest; and
          (iii) the reference in sub-section 462 (4) to any power conferred on the Commission by Subdivision F of Division