Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.8A - DESIGN AND DISTRIBUTION REQUIREMENTS RELATING TO FINANCIAL PRODUCTS FOR RETAIL CLIENTS  

Division 3 - Distribution of financial products  

SECTION 994G   994G   NOTICE TO ASIC  


If:

(a)  a person makes a target market determination for a financial product; and

(b)  the person becomes aware of a significant dealing in the product in relation to a retail client (except an excluded dealing); and

(c)  the person becomes aware that the dealing is not consistent with the determination;

the person must give written notice to ASIC as soon as practicable, and in any case within 10 business days, after becoming so aware.

Note 1: Failure to comply with this section is an offence (see subsection 1311(1) ).

Note 2: This section is also a civil penalty provision (see section 1317E ). For relief from liability to a civil penalty relating to this section, see section 1317S .


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