Clause 11
Amendment of section 386AM
of Companies and Limited Liability Partnerships (Miscellaneous Amendments) Bill
In the Companies Act 1967, in section 386AM, after subsection (4), insert —“(4A) A person who, in complying with a requirement imposed, or in answering an inquiry made, under subsection (1) or (2), provides any information that is false or misleading in a material particular to the Registrar or an officer of the Authority, shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $25,000.
In proceedings for an offence under subsection (4A), it is a defence to the charge for the accused to prove, on a balance of probabilities, that the accused took all reasonable steps and exercised all due diligence to ensure that the information provided was not false or misleading.”.