Corporations Act 2001
CCH Note: Part 7.7, Divs 2, 3 and 4 are modified by ASIC Corporations (Superannuation Calculators and Retirement Estimates) Instrument 2022/603.
A financial services licensee contravenes this subsection if the licensee does not take reasonable steps to ensure that an authorised representative of the licensee:
(a) complies with their obligations under this Part to give disclosure documents or statements as and when required; and
(b) without limiting paragraph (a), does not, in purported compliance with obligations under this Part, give disclosure documents or statements that are defective. Fault-based offence 952H(2)
A person commits an offence if the person contravenes subsection (1). Civil liability 952H(3)
A person contravenes this subsection if the person contravenes subsection (1).
Note: This subsection is a civil penalty provision (see section 1317E ).