CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.7 - FINANCIAL SERVICES DISCLOSURE  

Division 7 - Enforcement  

Subdivision A - Offences  

SECTION 952D   OFFENCE OF GIVING A DISCLOSURE DOCUMENT OR STATEMENT KNOWING IT TO BE DEFECTIVE  

952D(1)  
A person (the providing entity ), being a financial services licensee, commits an offence if:


(a) the providing entity:


(i) gives (see subsection (3)) another person a disclosure document or statement in circumstances in which the document or statement is required by a provision of this Part to be given to the other person; or

(ii) is a financial services licensee and gives (see subsection (3)), or makes available to, another person a disclosure document or statement, being a Financial Services Guide or a Supplementary Financial Services Guide, reckless as to whether the other person will or may rely on the information in it; and


(b) the providing entity knows that the disclosure document or statement is defective.

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 .

952D(2)  
An authorised representative of a financial services licensee commits an offence if:


(a) the representative:


(i) gives (see subsection (3)) a person a disclosure document or statement in circumstances in which the document or statement is required by a provision of this Part to be given to the person; or

(ii) gives (see subsection (3)), or makes available to, a person a disclosure document or statement, being a Financial Services Guide or a Supplementary Financial Services Guide, reckless as to whether the person will or may rely on the information in it; and


(b) the representative knows that the disclosure document or statement is defective.

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 .

952D(3)  
In this section, give means give by any means (including orally), and is not limited to the meaning it has because of section 940C .


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