Corporations Act 2001
A person (the providing entity ) commits an offence if:
(a) the providing entity is required by a provision of this Part to give another person a disclosure document or statement (the required disclosure document or statement ); and
(b) the providing entity does not give (within the meaning of section 940C ) the other person anything purporting to be the required disclosure document or statement by the time they are required to do so.
Note: A defendant bears an evidential burden in relation to the matters in subsections 941C(1) , (2) , (3) and (3A) . See subsection 13.3(3) of the Criminal Code .
An offence based on subsection (1) is an offence of strict liability.
Note: For strict liability , see section 6.1 of the Criminal Code .
952C(3) Ordinary offence.A person (the providing entity ) commits an offence if:
(a) the providing entity is required by a provision of this Part to give another person a disclosure document or statement (the required disclosure document or statement ); and
(b) the providing entity does not give (within the meaning of section 940C ) the other person anything purporting to be the required disclosure document or statement by the time they are required to do so.
Note: A defendant bears an evidential burden in relation to the matters in subsections 941C(1) , (2) , (3) and (3A) . See subsection 13.3(3) of the Criminal Code .
In any proceedings against an authorised representative of a financial services licensee for an offence based on subsection (1) or (3), it is a defence if:
(a) the licensee had provided the representative with information or instructions about the giving of disclosure documents or statements; and
(b) the representative's failure to give the required disclosure document or statement occurred because the representative was acting in reliance on that information or those instructions; and
(c) the representative's reliance on that information or those instructions was reasonable.
Note: A defendant bears an evidential burden in relation to the matters in subsection (4). See subsection 13.3(3) of the Criminal Code .
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.