Section 113(3) of the Corporations Act 2001 (Cth) is ‘Proprietary Companies – A proprietary company must not engage in any activity that would require disclosure to investors under chapter 6D’ and is extracted below.
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Section 113(3) of the Corporations Act 2001 (Cth) is Proprietary Companies – A proprietary company must not engage in any activity that would require disclosure to investors under chapter 6D and reads as follows:
(3) A proprietary company must not engage in any activity that would require disclosure to investors under chapter 6D, except for
(a) an offer of its shares to:
(i) existing shareholders of the company; or
(ii) employees of the company or of a subsidiary of the company; or
(b) a CSF offer.
The maximum penalty for the offence of Proprietary Companies – A proprietary company must not engage in any activity that would require disclosure to investors under chapter 6D is:
5 penalty units (a Commonwealth penalty unit is currently $210).
However, it should be kept in mind that maximum penalties are reserved for the most serious cases.
Your legal team will be able to advise you of the essential elements the prosecution would need to prove in order to establish the offence, whether those elements are capable of being established in your particular situation, the most effective and efficient way forward and the likely outcome.
Choosing the right legal team to defend your reputation and interests can be a difficult process.
However, it is always important to look at a firm’s experience and results when making this decision.
At Sydney Criminal Lawyers®, we have extensive experience defending and winning some of the most complex criminal matters – so you can rest assured that you are in safe hands.
Our criminal law specialists will take the time in every case to carefully scrutinise all the evidence in order to identify problems with the prosecution case at an early stage in the proceedings.
Where issues are found, our lawyers will write to the prosecution asking to have the charges dropped on this basis – often sparing our clients the considerable time and expense associated with defended hearings.
However, should your matter proceed to court, our senior lawyers will represent you and present a strong defence case to maximise your chances of being found ‘not guilty.’
Our senior lawyers are highly skilled advocates who have been recognised for their expert knowledge of the criminal law, as well as their ability to obtain excellent results in difficult cases.
We can assist you in avoiding the harsh penalties imposed by the law if you simply wish to plead guilty – in these cases, our experienced advocates can prepare and present compelling sentencing submissions which focus on any positive factors of your case.
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