THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.11 - CONDUCT IN RELATION TO SECURITIES

Division 2 - Prohibited conduct

SECTION 1000   FRAUDULENTLY INDUCING PERSONS TO DEAL IN SECURITIES  

1000(1)  [Fraudulent inducement by a person]  

A person shall not:

(a)  by making or publishing a statement, promise or forecast that the person knows to be misleading, false or deceptive;

(b)  by a dishonest concealment of material facts;

(c)  by the reckless making or publishing (dishonestly or otherwise) of a statement, promise or forecast that is misleading, false or deceptive; or

(d)  by recording or storing in, or by means of, any mechanical, electronic or other device information that the person knows to be false in a material particular or materially misleading;

induce or attempt to induce another person to deal in securities.

1000(2)  (Omitted by No 110 of 1990, Sch 1 (effective 18 December 1990).)

1000(3)  [Defence to subsec (1)]  

It is a defence to a prosecution for a contravention of subsection (1) constituted by recording or storing information as mentioned in paragraph (1)(d) if it is proved that, when the information was so recorded or stored, the defendant had no reasonable grounds for expecting that the information would be available to any other person.