386AO. Codes of practice, etc.

Question 1

386AO. Codes of practice, etc.

Answer 1

General overview
[386AO.01] Section 386AO empowers the registrar to issue codes, guidance, guidelines, policy statements and practices for the purpose of facilitating compliance with Part XIA of the Act by companies and foreign companies.

Question 2

Codes, guidelines, etc., do not have force of law

Answer 2

[386AO.02] Section 386AO(5) obliquely provides that such codes, guidelines, etc., issued under this section shall not have the force of law because any failure by a person to observe its provisions shall not of itself render such person liable to criminal proceedings but any such failure may be relied upon in any proceedings, criminal or civil, as tending toward establishing or negating any liability which is in question in the proceedings.