Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 1020AC

  (1)   Subsection   (2) applies if:

  (a)   the seller mentioned in subparagraph   1020AB(1)(a)(i) gives a financial services licensee information in accordance with section   1020AB in relation to a sale of section   1020B products on a licensed market; and

  (b)   the following requirements are satisfied (if applicable):

  (i)   if regulations made for the purposes of this subparagraph specify a kind of section   1020B product--the section   1020B products are of that kind;

  (ii)   if regulations made for the purposes of this subparagraph specify a kind of section   1020B product--the section   1020B products are not of that kind;

  (iii)   if regulations made for the purposes of this subparagraph specify circumstances in which the sale is made--the sale is made in those circumstances.

Offence

  (2)   The financial services licensee must:

  (a)   give the entity mentioned in subsection   (3) particulars specified in the regulations in relation to the circumstances mentioned in paragraph   (1)(a); and

  (b)   do so:

  (i)   on or before the time specified in the regulations; and

  (ii)   in the manner specified in the regulations.

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

  (3)   The entity is:

  (a)   the operator of the licensed market mentioned in paragraph   (1)(a); or

  (b)   if the regulations specify another entity--that entity.