Document ID: chunk:federal_register_of_legislation:C2008A00020:clause:1_18
Version: federal_register_of_legislation:C2008A00020
Segment Type: clause
Provision Reference: sch 1 cl 18
Character Range: 9944–10536

18  Subsection 11(1)
Repeal the subsection, substitute:

 (1) A director of a Commonwealth authority contravenes this subsection if the director:
 (a) causes a directors' reporting rule to be contravened; or
 (b) fails to take all reasonable steps to comply with, or secure compliance with, a directors' reporting rule.

Note: This subsection is a civil penalty provision (see Schedule 2).

 (1A) A director of the authority commits an offence if the director contravenes subsection (1) and the contravention is dishonest.

Penalty: 2,000 penalty units or imprisonment for 5 years, or both.