Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteCCH Note: Division 7 is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716; and the ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669.
CCH Note: Subdivision A is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716; and the ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669.
CCH Note: Section 952F is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716; and the ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669.
For the purposes of this section, a financial services licensee provides disclosure material to an authorised representative of the licensee if:
(a) the licensee authorises the distribution by the representative of a disclosure document or statement, being a Financial Services Guide or a Supplementary Financial Services Guide; or
(b) the licensee provides the representative with a disclosure document or statement, being:
(i) a Statement of Advice; or
(ii) a Cash Settlement Fact Sheet; or
(iii) information, a statement or a copy of a record required by subsection 941C(5) or (7) , 941D(2) , 946AA(5) , 946B(3) , (6) or (8) or 946C(2) ; or
(c) the licensee provides the representative with information:
(i) for the purpose of it being included by the representative in a disclosure document or statement, being a Statement of Advice, a Cash Settlement Fact Sheet, or information, a statement or a copy of a record required by subsection 941C(5) or (7) , 941D(2) , 946AA(5) , 946B(3) , (6) or (8) or 946C(2) ; or
(ii) knowing that it is likely that it will be so included in such a document.
952F(2)
A financial services licensee commits an offence if:
(a) the licensee provides disclosure material (being a disclosure document or statement) to an authorised representative of the licensee as mentioned in paragraph (1)(a) or (b); and
(b) the licensee knows that the disclosure document or statement is defective.
952F(3)
A financial services licensee commits an offence if:
(a) the licensee provides disclosure material (being information) to an authorised representative of the licensee as mentioned in paragraph (1)(c); and
(b) the licensee knows that, if the information is included by the representative as mentioned in that paragraph, the disclosure document or statement concerned will be defective.
952F(4)
A financial services licensee commits an offence if:
(a) the licensee provides disclosure material (being information) to an authorised representative of the licensee as mentioned in paragraph (1)(c); and
(b) the information relates to a matter or matters, but the licensee knows that it is only some of the information relating to the matter or matters that the disclosure document or statement concerned is required to contain; and
(c) the licensee is reckless as to whether the representative will or may prepare the disclosure document or statement on the basis that the information is all the information relating to the matter or matters that the disclosure document or statement is required to contain.
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