Document ID: chunk:federal_register_of_legislation:C2023A00069:clause:1_641a
Version: federal_register_of_legislation:C2023A00069
Segment Type: clause
Provision Reference: sch 1 cl 641A
Character Range: 28553–29657

641A  Use or disclosure of information obtained from target
 (1) A person (the first person) contravenes this subsection if:
 (a) the target gives the bidder information under section 641 in relation to another person; and
 (b) the first person:
 (i) is the bidder; or
 (ii) obtains the information from the bidder (whether directly or indirectly); and
 (c) the first person uses or discloses the information; and
 (d) the use or disclosure is not for the purposes of sending a document, or otherwise complying with an obligation under this Act, in relation to:
 (i) the takeover bid; or
 (ii) a compulsory acquisition of securities under Part 6A.1 relating to the takeover bid.
Civil penalty:
 (a) for an individual—2,000 penalty units; and
 (b) for a body corporate—10,000 penalty units.
 (2) Subsection (1) does not apply if the use or disclosure is required or permitted by a law of the Commonwealth or a prescribed law of a State or internal Territory.
 (3) A person who contravenes subsection (1) is not guilty of an offence.
Note: Subsection (1) is a civil penalty provision (see section 1317E).