Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.7 - FINANCIAL SERVICES DISCLOSURE  

Division 1 - Preliminary  

SECTION 940B   WHAT IF THERE IS NO REASONABLE OPPORTUNITY TO GIVE A DOCUMENT, INFORMATION OR STATEMENT REQUIRED BY THIS PART?  

940B(1)   [ Provision not contravened]  

If:


(a) apart from this section, a person (the providing entity ) would be required by a provision of this Part to give another person (the client ) a particular document (for example, a Financial Services Guide or a Statement of Advice), or particular information or a particular statement; and


(b) the providing entity has not had a reasonable opportunity to give (in accordance with section 940C ) the client the document, information or statement by the time they are required by this Part to give it to the client;

the fact that the providing entity has not given the document, information or statement to the client as required by the provision is not a contravention of the provision.

Note: In a prosecution for an offence, a defendant bears an evidential burden in relation to the matters in this section (see subsection 13.3(3) of the Criminal Code ).

940B(2)   [ Reasonable opportunity]  

For the purposes of subsection (1), the providing entity is not taken not to have had a reasonable opportunity to provide the document, information or statement if:


(a) section 940C (or regulations made for the purposes of that section) permit the document, information or statement to be sent to an address (including an electronic address) or fax number nominated by the client; and


(b) the client has not given the providing entity an address (including an electronic address) or fax number to which the document, information or statement can be sent; but


(c) the providing entity has had a reasonable opportunity to make, but has not made, reasonable enquiries of the client to obtain such an address or fax number.


 

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