Offences
- Carrying on business using “Limited”, “No Liability” or “Proprietary” in name
- Good faith, use of position and use of information—criminal offences
- Listed company—director to notify market operator of shareholdings etc.
- Disqualified person not to manage corporations
- Proxy vote if appointment specifies way to vote
- Public company must hold AGM
- Lodgment of annual reports with ASIC
- Lodgment of half-year reports with ASIC
- Officers to report to controller about corporation’s affairs
- Directors to help administrator
- Directors to help administrator
- Information about the company’s affairs
- Officers to help liquidator
- Liquidator’s rights to company’s books
- Director’s duty to prevent insolvent trading by company
- Offences by officers of certain companies
- Incurring of certain debts; fraudulent conduct
- When a managed investment scheme must be registered
- Prohibition on certain acquisitions of relevant interests in voting shares
- Continuous disclosure—listed disclosing entity bound by a disclosure requirement in market listing rules
- Need for an Australian financial services licence
- Providing financial services on behalf of a person who carries on a financial services business
- Effect of banning orders
- Financial services licensee to prepare and lodge annual profit and loss statement and balance sheet
- Market manipulation
- False trading and market rigging—creating a false or misleading appearance of active trading etc.
- False trading and market rigging—artificially maintaining etc. trading price
- Dissemination of information about illegal transactions
- False or misleading statements
- Inducing persons to deal
- Dishonest conduct
- Prohibited conduct by person in possession of inside information
- Registers
- Falsification of books
- False or misleading documents
- False information etc.
- Obstructing or hindering ASIC etc.
- Automatic disqualification—convictions, bankruptcy and foreign court orders etc
- Part 9.4 Divisions 2 Offences generally
Dissemination of information about illegal transactions
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Offence title: |
Dissemination of information about illegal transactions |
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Act: |
1041D Corporations Act |
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Offence: |
A person must not, in this jurisdiction, or elsewhere, circulate or disseminate, or be so involved, a statement or information to the effect that the price for trading in financial products in financial market, in this jurisdiction, will or is likely to, rise, fall or be maintained, because of a transaction, or other act or thing done, in relation to those financial products, if: (a) The transaction, or thing done, would be a contravention of s. 1041A, 1041B, 1041C, 1041E or 1041F; and (b) The person or their associate: i. Has entered the transaction or done an act or things; or ii. Has or may receive, directly or indirectly, a consideration or benefit for circulating or disseminating, or authorising the circulation or dissemination or, the statement or information. Note: Failure to comply with this subsection is an offence: s. 1311(1).
Note: Failure to comply with this subsection is a contravention: s.1317E and 1317S. |
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Penalty: |
15 years imprisonment |
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Summary/Indictable/mixed: |
Indictable |
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Jurisdiction: |
District or Supreme Court |
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How committed: |
A managing director publishes a document that explains the company has invented a widget and directly distributes this to the market with the suggestion it will increase share values by 25%. In making the announcement, it breaches the relevant section. The managing director’s partner has commenced trading in the shares to take advantage of the announcement. |
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Important note: |
Defence: For defences to a prosecution based on this section, see Division 4 - Defences, relief and limits on liability: s.1044A General defence or relief for publishers and 1044B Limit on liability for misleading or deceptive conduct. |