Corporations Act 2001
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.
(Repealed by No 17 of 2019, s 3, Sch 1 [ 103] (effective 13 March 2019).) 1041F(3)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 (within the meaning of the Superannuation Industry (Supervision) Act 1993 ) of a superannuation entity (within the meaning of that Act);
(b) permitting a person to become a standard employer-sponsor (within the meaning of the Superannuation Industry (Supervision) Act 1993 ) of a superannuation entity (within the meaning of that Act);
(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 product.
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