Document ID: chunk:federal_register_of_legislation:C2004A04041:section:1990:p189
Version: federal_register_of_legislation:C2004A04041
Segment Type: section
Provision Reference: s 1990 (pt 189/212)
Character Range: 491432–494083

(3) and (4) do not apply if, on application by the company or a person who has suffered, or is likely to suffer, loss or damage as a result of the making or performance of an agreement, or

SCHEDULE 5—continued

the engaging in of a transaction, as mentioned in subsection (3), the Court declares by order that it is satisfied that the person referred to in subsection (1) or (2) became aware, before making the agreement or engaging in the transaction, that a condition prescribed by this Division had not been satisfied in relation to:

     (a) the buy-back that would result from the acceptance of the offer referred to in subsection (3); or

  (b) the proposed buy-back specified in the certificate;

as the case may be.

Presumptions about certain matters

"206sb. (1) In a proceeding, a document purporting to be a compliance certificate is, unless the contrary is established, to be presumed to be a certificate duly given for the purposes of section 206sa.

"(2) In a proceeding, a document purporting to be a copy of a compliance certificate is, unless the contrary is established, to be presumed to be a true copy of a certificate duly given for the purposes of section 206sa.

"(3) Where a person to whom an offer was made under a buy-back scheme has possession of a copy of a compliance certificate relating to the buy-back scheme, it is to be presumed, unless the contrary is established, that the copy accompanied the offer.

"(4) A person who has possession of a compliance certificate is, unless the contrary is established, to be presumed to be the person to whom the certificate was given.

"(5) For the purposes of subsection 206sa (5), a person is, unless the contrary is established, to be presumed to have been aware at a particular time of any matter of which an employee or agent of the person having duties, or acting on the person's behalf, in relation to the proposed buy-back concerned was aware at that time.

Who must sign compliance certificate

"206sc. A compliance certificate must be signed by at least 2 directors, or by a director and a secretary, of the company.

Offences relating to compliance certificates: buy-back schemes

"206sd. (1) Where some but not all of the offers made by a company under a buy-back scheme are accompanied by a compliance certificate relating to the buy-back scheme, the company contravenes this subsection.

  "(2) Where an offer made by a company to a person under a buy-back scheme was accompanied by a copy of a compliance certificate

SCHEDULE 5—continued

relating to the buy-back scheme and a buy-back made under the buy-back scheme contravenes section 205, the company is to