Continuous Disclosure Breaches Attract a AU$450,000 Penalty for Mining and Exploration Company

February 2023
Region: Asia Pacific
On 13 January 2023, the Federal Court of Australia handed down a AU$450,000 fine to Australian Mines Limited (AML) for breaching its continuous disclosure obligations on three occasions. Federal Court justice, Craig Colvin, noted that AML had breached disclosure laws on matters of considerable significance to its affairs and on matters that were of major importance for its shareholders. This comes as a timely reminder, to companies and managing directors alike, of the importance of complying with continuous disclosure obligations.