511Offence of knowingly or recklessly contravening other provisions relating to defective disclosure

1. A person who contravenes a disclosure provision commits an offence if the person—

2. knows that, or is reckless as to whether, the relevant statement is false or misleading or is likely to mislead; or
3. knows that, or is reckless as to whether, there is a relevant omission.

4. If an entity contravenes a disclosure provision, a director of the entity commits an offence if—

5. the relevant act takes place with the director's authority, permission, or consent; and
6. the director—
   1. knows that, or is reckless as to whether, the relevant statement is false or misleading or is likely to mislead; or
   2. knows that, or is reckless as to whether, there is a relevant omission.

7. A person who commits an offence under subsection (1) or (2) is liable on conviction,—

8. in the case of an individual, to imprisonment for a term not exceeding 5 years, a fine not exceeding $500,000, or both; and
9. in any other case, to a fine not exceeding $2.5 million.

10. In this section,—

    disclosure provision means section 99, 427(2) or (6), 431P, or 431Y or clause 27 of Schedule 1

    relevant act means,—

    1. in relation to section 99, the act of providing or making available the ongoing disclosure:
    2. in relation to section 427(2), the act of providing the disclosure statement to a person:
    3. in relation to section 427(6), the act of providing or making available the further disclosure:
    4. in relation to section 431P or 431Y, the act of making the information available to a person:
    5. in relation to clause 27 of Schedule 1, the act of providing the limited disclosure document to a person

    relevant omission means an omission as referred to in section 99(1)(a)(ii), 427(1)(a)(ii) or (6)(a)(ii), 431P(1)(a)(ii), or 431Y(1)(a)(ii) or clause 27(1)(a)(ii) of Schedule 1 (as the case may be)

    relevant statement means the statement referred to in section 99(1)(a)(i), 427(1)(a)(i) or (6)(a)(i), 431P(1)(a)(i), or 431Y(1)(a)(i) or clause 27(1)(a)(i) of Schedule 1 (as the case may be).