Section 1021FA — Corporations Act 2001 (Cth)

Offence where information known to be defective

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

(a) the providing entity communicates information required by paragraph 1012G(3)(a) to another person in circumstances in which the providing entity is required to do so; and

(b) the providing entity knows that the information is defective.

Note: A defendant bears an evidential burden in relation to the matters in sections 1012D and 1012E.

Offence whether or not information known to be defective

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

(a) the providing entity communicates information required by paragraph 1012G(3)(a) to another person in circumstances in which the providing entity is required to do so; and

(b) the information is defective.

Note: A defendant bears an evidential burden in relation to the matters in sections 1012D and 1012E.

(3) For the purposes of an offence based on subsection (2), strict liability applies to the physical element of the offence specified in paragraph (2)(b).

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

Defences

(4) In any proceedings against a person for an offence based on subsection (1) or (2), it is a defence if the person took reasonable steps to ensure that the information communicated would not be defective.

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

(5) In any proceedings against a person for an offence based on subsection (2), it is a defence if the information communicated was defective because of information, or an omission from information, provided to the person (whether in a document or otherwise) by the issuer of the financial product concerned.

Note: A defendant bears an evidential burden in relation to the matters in subsection (5). See subsection 13.3(3) of the Criminal Code.

Related sections

• s 1021D — Offence of preparer of defective disclosure document or statement giving the document or statement knowing it to be defective
• s 1021E — Preparer of defective disclosure document or statement giving the document or statement (whether or not known to be defective)
• s 1021F — Offence of regulated person (other than preparer) giving disclosure document or statement knowing it to be defective
• s 1021FB — Paragraph 1012G(3)(a) obligation—offences relating to information provided by product issuer for communication by another person
• s 1021G — Financial services licensee failing to ensure authorised representative gives etc. disclosure documents or statements as required
• s 1021H — Offences if a Product Disclosure Statement (or Supplementary PDS) does not comply with certain requirements

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