There are dangers in not carefully filling an ASIC form. This is
shown by the recent case of Sydney based director Sam Grace.
Facts
He submitted ASIC Form 6010 to deregister the company Grace
Enterprises (NSW) Pty Ltd (Company). As part of
that form, he declared that the Company was not a party to any
ongoing legal proceedings. The Company at the time was a party to
proceedings in the New South Wales Civil and Administrative
Tribunal.
The Law
He was prosecuted under section 1308 of the Corporations Act
2001 (Cth) which states:
- A person who, in a document required by or for the purposes of
this Act or lodged with or submitted to ASIC, makes or authorises
the making of a statement that to the person's knowledge is
false or misleading in a material particular, or omits or
authorises the omission of any matter or thing without which the
document is to the person's knowledge misleading in a material
respect, is guilty of an offence.
