Commonwealth Numbered Acts

COMMONWEALTH AUTHORITIES AND COMPANIES ACT 1997 No. 153 of 1997 - SECT 11

(1) If a directors reporting rule is contravened, each director who:

   (a)  caused the contravention; or

   (b)  failed to take all reasonable steps to comply with the rule, or secure
        compliance with the rule; contravenes this subsection. Note: This is a
        civil penalty provision and Schedule 2 sets out the civil and criminal
        consequences of contravening it.

(2) If a contravention of a directors reporting rule consists of an omission
from the financial statements, it is a defence if the defendant proves that
the information omitted was immaterial and did not affect the giving of a true
and fair view of the matters required by the Finance Minister's Orders to be
included in the statements.

(3) In this section:
directors reporting rule means subsection 9(1) or any of the requirements of
Schedule 1 that impose obligations on the directors.