Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.7 - FINANCIAL SERVICES DISCLOSURE  

Division 7 - Enforcement  

Subdivision A - Offences  

SECTION 952C   OFFENCE OF FAILING TO GIVE A DISCLOSURE DOCUMENT OR STATEMENT  

952C(1)   Strict liability offence.  

A person (the providing entity ) commits an offence if:


(a) the providing entity is required by a provision of this Part to give another person a disclosure document or statement (the required disclosure document or statement ); and


(b) the providing entity does not give (within the meaning of section 940C ) the other person anything purporting to be the required disclosure document or statement by the time they are required to do so.

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 .

952C(2)  
An offence based on subsection (1) is an offence of strict liability.

Note: For strict liability , see section 6.1 of the Criminal Code .

952C(3)   Ordinary offence.  

A person (the providing entity ) commits an offence if:


(a) the providing entity is required by a provision of this Part to give another person a disclosure document or statement (the required disclosure document or statement ); and


(b) the providing entity does not give (within the meaning of section 940C ) the other person anything purporting to be the required disclosure document or statement by the time they are required to do so.

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 .

952C(4)   Defence for authorised representative.  

In any proceedings against an authorised representative of a financial services licensee for an offence based on subsection (1) or (3), it is a defence if:


(a) the licensee had provided the representative with information or instructions about the giving of disclosure documents or statements; and


(b) the representative's failure to give the required disclosure document or statement occurred because the representative was acting in reliance on that information or those instructions; and


(c) the representative's reliance on that information or those instructions was reasonable.

Note: A defendant bears an evidential burden in relation to the matters in subsection (4). See subsection 13.3(3) of the Criminal Code .


 

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