Regulatory Alerts2026-06-08
Palmer Leisure Coolum Pty Ltd pleads guilty to takeover law breaches
The Australian Securities and Investments Commission (ASIC) reports that Palmer Leisure Coolum Pty Ltd has pleaded guilty to breaching section 631(1) of the Corporations Act 2001 by failing to make formal takeover offers within the required two-month period. Prosecuted by the Office of the Director of Public Prosecutions following an ASIC referral, the company has been committed for sentencing in the District Court of Queensland. The statutory breach carries a maximum corporate penalty of $55,000.
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