Section 259F — Corporations Act 2001: Consequences of failing to comply with section 259A or 259B

(1) If a company contravenes section 259A or subsection 259B(1): (a) the contravention does not affect the validity of the acquisition or security or of any contract or transaction connected with it; and (b) the company is not guilty of an offence. (2) Any person who is involved in a company’s contravention of section 259A or subsection 259B(1) contravenes this subsection. Note 1: Subsection (2) is a civil penalty provision (see section 1317E). Note 2: Section 79 defines involved. (3) A person commits an offence if they are involved in a company’s contravention of section 259A or subsection 259B(1) and the involvement is dishonest.