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 7.10 - MARKET MISCONDUCT AND OTHER PROHIBITED CONDUCT RELATING TO FINANCIAL PRODUCTS AND FINANCIAL SERVICES  

Division 2 - The prohibited conduct (other than insider trading prohibitions)  

SECTION 1041F   INDUCING PERSONS TO DEAL  

1041F(1)    
A person must not, in this jurisdiction, induce another person to deal in financial products:

(a)    by making or publishing a statement, promise or forecast if the person knows, or is reckless as to whether, the statement is misleading, false or deceptive; or

(b)    by a dishonest concealment of material facts; or

(c)    by recording or storing information that the person knows to be false or misleading in a material particular or materially misleading if:

(i) the information is recorded or stored in, or by means of, a mechanical, electronic or other device; and

(ii) when the information was so recorded or stored, the person had reasonable grounds for expecting that it would be available to the other person, or a class of persons that includes the other person.

Note 1: Failure to comply with this subsection is an offence (see subsection 1311(1) ). For defences to a prosecution based on this subsection, see Division 4 .

Note 2: Failure to comply with this subsection may also lead to civil liability under section 1041I . For relief from liability under that section, see Division 4 .

1041F(2)    
(Repealed by No 17 of 2019, s 3, Sch 1 [ 103] (effective 13 March 2019).)

1041F(3)    
This section applies in relation to the following conduct as if that conduct were dealing in financial products:

(a)    

applying to become a standard employer-sponsor of a superannuation entity;

(b)    

permitting a person to become a standard employer-sponsor of a superannuation entity;

(c)    

applying, on behalf of an employee (within the meaning of the Retirement Savings Accounts Act 1997 ), for the employee to become the holder of an RSA.