Section 641A — Corporations Act 2001: Use or disclosure of information obtained from target

(1) A person (the first person) contravenes this subsection if: (a) the target gives the bidder information under section 641 in relation to another person; and (b) the first person: (i) is the bidder; or (ii) obtains the information from the bidder (whether directly or indirectly); and (c) the first person uses or discloses the information; and (d) the use or disclosure is not for the purposes of sending a document, or otherwise complying with an obligation under this Act, in relation to: (i) the takeover bid; or (ii) a compulsory acquisition of securities under Part 6A.1 relating to the takeover bid. Civil penalty: (a) for an individual—2,000 penalty units; and (b) for a body corporate—10,000 penalty units. (2) Subsection (1) does not apply if the use or disclosure is required or permitted by a law of the Commonwealth or a prescribed law of a State or internal Territory. (3) A person who contravenes subsection (1) is not guilty of an offence. Note: Subsection (1) is a civil penalty provision (see section 1317E).