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 4 - ASIC powers  

SECTION 994H   INFORMATION TO BE PROVIDED TO ASIC  

994H(1)  
ASIC may, in writing, require:

(a)  a person who makes, or is required by this Part to make, a target market determination for a financial product; or

(b)  a regulated person who engages in retail product distribution conduct in relation to a financial product;

to provide ASIC with distribution information, relating to the financial product, that is in the person ' s possession or to which the person has access.

994H(2)  
ASIC may, in writing, require a person who makes, or is required by this Part to make, a target market determination for a financial product to provide records referred to in subsection 994F(1) relating to the product.

994H(3)  
A person who is required by ASIC to provide it with distribution information or records under subsection (1) or (2) must comply with the requirement:

(a)  by the date specified by ASIC in the requirement; or

(b)  if no date is so specified, within 10 business days after the day the person is notified by ASIC of the requirement in subsection (1) or (2) .

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

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


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