Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.7 - FINANCIAL SERVICES DISCLOSURE  

Division 7 - Enforcement  

Subdivision A - Offences  

SECTION 952I   OFFENCES IF A FINANCIAL SERVICES GUIDE (OR SUPPLEMENTARY FSG) DOES NOT COMPLY WITH CERTAIN REQUIREMENTS  

952I(1)  
A financial services licensee commits an offence if:


(a) the licensee:


(i) gives (see subsection (6)) a person a Financial Services Guide in circumstances in which it is required by a provision of this Part to be given to the person; or

(ii) gives (see subsection (6)), or makes available to, a person a Financial Services Guide, reckless as to whether the person will or may rely on the information in it; and


(b) the Financial Services Guide does not comply with section 942A , subsection 942B(5) or 942DA(3) or paragraph 942E (b).

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 .

952I(2)  
A financial services licensee commits an offence if:


(a) the financial services licensee authorises the distribution of a Financial Services Guide by an authorised representative of the licensee; and


(b) the Financial Services Guide does not comply with section 942A , subsection 942B(5) or 942DA(3) or paragraph 942E(b) .

952I(3)  
A financial services licensee commits an offence if:


(a) the licensee:


(i) gives (see subsection (6)) a person a Supplementary Financial Services Guide in circumstances in which it is required by a provision of this Part to be given to the person; or

(ii) gives (see subsection (6)), or makes available to, a person a Supplementary Financial Services Guide, reckless as to whether the person will or may rely on the information in it; and


(b) the Supplementary Financial Services Guide does not comply with section 943B or 943C .

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 .

952I(4)  
A financial services licensee commits an offence if:


(a) the financial services licensee authorises the distribution of a Supplementary Financial Services Guide by an authorised representative of the licensee; and


(b) the Supplementary Financial Services Guide does not comply with section 943B or 943C .

952I(5)  
For the purposes of an offence based on subsection (1), (2), (3) or (4), strict liability applies to paragraph (b) of that subsection.

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

952I(6)  
In this section, give means give by any means (including orally), and is not limited to the meaning it has because of section 940C .


 

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