Corporations Act 2001
(a) the person prepares (or has someone else prepare for them) a Product Disclosure Statement, a Supplementary Product Disclosure Statement or a Replacement Product Disclosure Statement (the disclosure document ); and
(b) the disclosure document does not comply with:
(i) if it is a Product Disclosure Statement - section 1013B or 1013G or subsection 942DA(3) ; or
(ii) if it is a Supplementary Product Disclosure Statement - section 1013G , 1014B or 1014C ; or
(iii) if it is a Replacement Product Disclosure Statement - subsection 942DA(3) , section 1013G or subsection 1014K(1) , (2) or (3) ; and
(c) the person:
(i) gives (see subsection (3)) another person the disclosure document in circumstances in which it is required by a provision of this Part to be given to the other person; or
(ii) gives (see subsection (3)), or makes available to, another person the disclosure document, reckless as to whether the other person will or may rely on the information in it; or
(iii) gives (see subsection (3)), or makes available to, another person the disclosure document, reckless as to whether the other person, or someone else, will or may give it, or make it available, to another person as mentioned in subparagraph (i) or (ii).
[ CCH Note: For modified s 1021H(1)(a), (b)(i) and (b)(ii), see Corporations Regulations Schedule 10BA - Modifications of the Act relating to short-form product disclosure statements, Part 3, items 3.13, 3.14 and 3.15]
[ CCH Note: For s 1021H(1)(b)(iii), see Corporations Regulations Schedule 10BA - Modifications of the Act relating to short-form product disclosure statements, Part 3, item 3.16]
[ CCH Note: Act No 101 of 2007, Sch 1, Pt 6 [ 230] contained the following application provision (which was effective 28 June 2007):
Application of items 8, 70, 94, 146 to 150 and 156 to 158
The amendments made by items 8, 70, 94, 146 to 150 and 156 to 158 of this Schedule apply in relation to a Product Disclosure Statement that is lodged with ASIC whether the Statement is lodged before, on or after the day the amendments commence.
For the purposes of an offence based on subsection (1), strict liability applies to paragraph (b) of that subsection.
Note: For strict liability , see section 6.1 of the Criminal Code .
In this section, give means give by any means (including orally), and is not limited to giving in accordance with section 1015C .
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