Directors Publishing False Statements
The maximum penalty dor directors publishing false statements is ten years imprisonment.
What court will hear the matter?
This matter is a Table 1 offence which means that either the DPP or an accused can elect to have the matter dealt with in the District Court. If no election is made it will be dealt with summarily in the Local Court.
What must be proven?
In order for a court to find a person guilty of this offence it must be satisfied that:
- The accused was a director or officer of the company named;
- Whilst in that position, the accused made, circulated or published (or concurred in such action) a written statement relating to the affairs of the company which was false in a material particular with the intent to deceive (and defraud) the person named; and
- The accused knew of the falsity of the statement.
Section 176 of the Crimes Act states:
Whosoever, being a director, or officer, of any body corporate, or public company, makes, circulates, or publishes, or concurs in making, circulating, or publishing, any written statement, or account, which he or she knows to be false in any material particular, with intent to deceive, or defraud, any member, shareholder, or creditor, of such body corporate, or company, or with intent to induce any person to become a shareholder, or partner therein, or to intrust, or advance, any property to such body corporate, or company, or to enter into any security for the benefit thereof, shall be liable to imprisonment for 10 years.
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