CORPORATIONS ACT 2001
Note: Section 1020B prohibits certain short sales of section 1020B products.
The financial services licensee must not make a sale in this jurisdiction of section 1020B products on a licensed market if:
(a) the sale is on behalf of a person (the seller ); and
(b) the seller will be obliged under section 1020AB to give the financial services licensee information in relation to the sale; and
(c) either or both of the following apply:
(i) before making the sale, the financial services licensee failed to ask the seller, orally or in writing, whether the seller will be obliged under section 1020AB to give the financial services licensee information in relation to the sale;
(ii) before making the sale, the financial services licensee failed to record, in writing, the seller ' s answer.
Note 1: Failure to comply with this section is an offence (see subsection 1311(1) ).
Note 2: For the definition of writing , see section 25 of the Acts Interpretation Act 1901 . For the application of the Acts Interpretation Act 1901 to this Act, see section 5C of this Act.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.