Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.9A - PRODUCT INTERVENTION ORDERS  

SECTION 1023C   APPLICATION OF PRODUCT INTERVENTION ORDERS  

1023C(1)  
A product intervention order does not apply to a financial product held by a person if the person acquired, or entered into a contract for the acquisition of, the product before the order comes into force.

1023C(2)  
A product intervention order does not apply to a person:


(a) in the person ' s capacity as a retail client; or


(b) who is in a class of persons specified in regulations made for the purposes of this paragraph.

1023C(3)  
The regulations may provide that this Part does not apply to a financial product specified in the regulations.

Note: In a prosecution for an offence, the defendant bears an evidential burden in relation to the matters in this section (see subsection 13.3(3) of the Criminal Code ).


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