554Declarations of contravention (cf Corporations Act s 1317E)

554 Declarations of contravention (cf Corporations Act s 1317E)

(1) If the Supreme Court is satisfied that a person has contravened one of the following provisions, it must make a declaration of contravention:

(a) section 192 (1) (Care and diligence);

(b) section 193 (1) (Good faith);

(c) section 193 (2);

(d) section 194 (1) (Use of position);

(e) section 194 (2);

(f) section 195 (1) (Use of information);

(g) section 195 (3);

(h) section 328 (1) (Contravention by directors of provisions of Part 3.3);

(i) without limiting paragraph (h):

(i) section 315 (1) of the Corporations Act (Deadline for reporting to members) as applying under section 285 (2) or 328 (1) of this Law;

(ii) section 318 of the Corporations Act (Additional reporting by debenture issuers) as applying under section 288 or 328 (1) of this Law;

(j) any of the following provisions of the Corporations Act relating to debentures as applying under section 337 of this Law:

(i) section 674 (2) (Continuous disclosure—listed disclosing entity bound by a disclosure requirement in market listing rules);

(ii) section 674 (2A);

(iii) section 675 (2) (Continuous disclosure—other disclosing entities);

(iv) section 675 (2A);

(v) section 1041A (Market manipulation);

(vi) section 1041B (1) (False trading and market rigging—creating a false or misleading appearance of active trading etc);

(vii) section 1041C (1) (False trading and market rigging—artificially maintaining etc. trading price);

(viii) section 1041D (Dissemination of information about illegal transactions);

(ix) section 1043A (1) (Prohibited conduct by person in possession of inside information);

(x) section 1043A (2);

(k) section 588G (2) of the Corporations Act (Director’s duty to prevent insolvent trading by company) as applying under section 451 of this Law.

(2) A declaration of contravention must specify the following:

(a) the court that made the declaration;

(b) the civil penalty provision that was contravened;

(c) the person who contravened the provision;

(d) the conduct that constituted the contravention.