Section 994G — Corporations Act 2001 (Cth)

If:

(a) a person makes a target market determination for a financial product; and

(b) the person becomes aware of a significant dealing in the product in relation to a retail client (except a dealing of a kind referred to in paragraph (a) of the definition of excluded conduct in subsection 994A(1)); and

(c) the person becomes aware that the dealing is not consistent with the determination;

the person must give written notice to ASIC as soon as practicable, and in any case within 10 business days, after becoming so aware.

Note 1: Failure to comply with this section is an offence (see subsection 1311(1)).

Note 2: This section is also a civil penalty provision (see section 1317E). For relief from liability to a civil penalty relating to this section, see section 1317S.

Related sections

• s 994D — Prohibition on engaging in retail product distribution conduct unless target market determination made
• s 994E — Reasonable steps to ensure consistency with target market determinations
• s 994F — Record keeping and notification obligations
• s 994H — Information to be provided to ASIC
• s 994J — Stop orders
• s 994L — Exemptions and modifications by ASIC

Research how courts apply s 994G

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.