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
Information about the company’s affairs
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Offence title: |
Information about the company’s affairs |
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Act: |
497 Corporations Act |
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Offence: |
(1) The liquidator must, within 10 days of the liquidator meeting with the company at which a resolution for voluntary winding up is passed: (a) send to each creditor: i. a summary of affairs of the company in prescribed form; and ii. a list of the names and addresses of creditors and the estimated amounts of their claims, as shown in the books; and (b) lodge a copy of the documents in (a).
(2) The list in (1)(a)(ii) must identify any creditors that are related entities of the company.
(3) Unless the court orders, the list in (1)(a)(ii) need not be sent to creditors owed less than $1,000. (4) Within 5 days of the meeting resolving to voluntarily wind up the company, the directors must provide a report to the liquidator, in approved form, about the company’s business, property, affairs and financial circumstances. (6) The liquidator must, within 10 business days after receiving a report under subsection (4), lodge a copy of the report.
(7) A person must not contravene subsection (6). |
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Penalty: |
(1) – 3 months imprisonment.
(4) – 50 penalty units.
(7) – 20 penalty units. |
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Summary/Indictable/mixed: |
Summary |
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Jurisdiction: |
Local Court |
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How committed: |
(1) Within 10 days of the voluntary winding up resolution being made the, the liquidator fails to send to each creditor a summary of the affairs of the company and aa list of the names and addresses of the creditors and the estimated value of claims on the books of the company.
(4) Within 5 days of the resolution to wind up the company the directors fail to send a report to the liquidator a report about the company’s business, property, affairs and financial circumstances.
(7) The liquidator fails to lodge the report in ss. (4) with 10 business days of receiving it. |
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Important note: |
Defence: reasonable excuse |