Commonwealth Numbered Acts

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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 1296

Notice of Board's decision

(1) Where the Board decides to exercise any of its powers under section 1292 in relation to a person, or decides that it is required to make an order under subsection 1292(7) in relation to a person, the Board must, within 14 days after the decision:

(a)
give to the person a notice in writing setting out the decision and the reasons for it; and

(b)
lodge a copy of the notice referred to in paragraph (a); and

(c)
cause to be published in the Gazette a notice in writing setting out the decision.

(2) Where the Board decides to refuse to exercise its powers under section 1292 in relation to a person, or decides that it is not required to make an order under subsection 1292(7) in relation to a person, the Board must, within 14 days after the decision:

(a)
give to the person a notice in writing setting out the decision and the reasons for it; and

(b)
lodge a copy of the notice referred to in paragraph (a).

(3) The validity of a decision of the Board is not affected by failure of the Board to comply with subsection (1) or (2), as the case requires, in relation to the decision.



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