Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The company must not make the reduction unless it complies with subsection 256B(1).
(2) If the company contravenes subsection (1):
(a) the contravention does not affect the validity of the reduction or of any contract or transaction connected with it; and
(b) the company is not guilty of an offence.
(3) Any person who is involved in a company's contravention of subsection (1) contravenes this subsection.
Note 1: Subsection (3) is a civil penalty provision (see section 1317E).
Note 2: Section 79 defines involved .
(4) A person commits an offence if they are involved in a company's contravention of subsection (1) and the involvement is dishonest.