Corporations Act 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
Division 7
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Enforcement
Subdivision A
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Offences
SECTION 952H
FINANCIAL SERVICES LICENSEE FAILING TO ENSURE AUTHORISED REPRESENTATIVE GIVES DISCLOSURE DOCUMENTS OR STATEMENTS AS REQUIRED
Obligation
952H(1)
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 Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
PART 7.7
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FINANCIAL SERVICES DISCLOSURE
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 ).
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