Clause 124

by deleting the words “section 201(1A), (3), (3A) or (15)” in subsection (1) and substituting the words “section 201(2), (5) or (16)”; (b)by deleting the words “section 201(1A), (3), (3A) and (15)” in subsection (1A)(a) and substituting the words “section 201(2), (5) or (16)”; and

by deleting subsection (2) and substituting the following subsection:“(2) In any proceedings against a person for failure to take all reasonable steps to comply with, or to secure compliance with, the preceding provisions of this Division relating to the form and content of the financial statements of a company or consolidated financial statements of a parent company by reason of an omission from the financial statements or consolidated financial statements, it is a defence to prove that the omission was not intentional and that the information omitted was immaterial and did not affect the giving of a true and fair view of the matters required by section 201 to be dealt with in the financial statements or consolidated financial statements.”.