Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 1021M

Strict liability offence

  (1)   A person commits an offence if:

  (a)   the person is required by section   1015D:

  (i)   to notify ASIC that a Product Disclosure Statement or a Supplementary Product Disclosure Statement is in use; or

  (ii)   to keep a copy of a Product Disclosure Statement or a Supplementary Product Disclosure Statement for a particular period; or

  (iii)   to make a copy of a Product Disclosure Statement or a Supplementary Product Disclosure Statement available to ASIC; or

  (iv)   to comply with a request from a person for a copy of a Product Disclosure Statement or a Supplementary Product Disclosure Statement; and

  (b)   the person does not comply with that requirement.

  (2)   An offence based on subsection   (1) is an offence of strict liability.

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

Ordinary offence

  (3)   A person commits an offence if:

  (a)   the person is required by section   1015D:

  (i)   to notify ASIC that a Product Disclosure Statement or a Supplementary Product Disclosure Statement is in use; or

  (ii)   to keep a copy of a Product Disclosure Statement or a Supplementary Product Disclosure Statement for a particular period; or

  (iii)   to make a copy of a Product Disclosure Statement or a Supplementary Product Disclosure Statement available to ASIC; or

  (iv)   to comply with a request from a person for a copy of a Product Disclosure Statement or a Supplementary Product Disclosure Statement; and

  (b)   the person does not comply with that requirement.