Document ID: chunk:federal_register_of_legislation:C2004A03231:body:0:p74
Version: federal_register_of_legislation:C2004A03231
Segment Type: other
Provision Reference: 
Character Range: 185593–188335

taking part in the management of, a corporation without the leave of the Court.
"(4) Where—
     (a) the Commission has served a notice under sub-section (2) on a person who is a relevant person in relation to 2 or more companies that were, at the time of service, relevant companies; and
     (b) those 2 companies have at any time been related to each other, or any of those companies has at any time been related to any other of those companies, as the case may be,
the Commission shall have regard to that fact in considering whether or not it is appropriate to serve on the person a notice under sub-section (3).
"(5) A person shall not contravene a notice served under sub-section (3) that is applicable to the person.
Penalty: $5,000 or imprisonment for one year, or both.
"(6) A person shall not contravene a notice served under a provision of a law of a participating State or participating Territory that corresponds with sub-section (3), being a notice that is applicable to the person.
Penalty: $5,000 or imprisonment for one year, or both.".

False or misleading statements
124. Section 563 of the Principal Act is amended—
     (a) by inserting after sub-section (2) the following sub-section:
    "(2a) A person who makes or authorises the making of a statement that is based on information that to his knowledge—
         (a) is false or misleading in a material particular; or
         (b) has omitted from it a matter or thing the omission of which renders the information misleading in a material respect,
    shall, for the purposes of sub-section (2), be deemed to have made or authorised the making of a statement that to his knowledge was false or misleading in a material particular."; and
     (b) by inserting after sub-section (3) the following sub-section:
    "(3a) A person who makes or authorises the making of a statement without having taken reasonable steps to ensure that the information on which the statement was based—
         (a) was not false or misleading in a material particular; and
         (b) did not have omitted from it a matter or thing the omission of which would render the information misleading in a material respect,
    shall, for the purposes of sub-section (3), be deemed to have made or authorised the making of a statement without having taken reasonable steps to ensure that the statement was not false or misleading.".

125. Section 564 of the Principal Act is repealed and the following section is substituted:

False information, &c.
"564. (1) An officer of a corporation who makes available or furnishes information, or authorises or permits the making available or furnishing of information, to—
     (a) a director, auditor, member, debenture holder or trustee for debenture