Commonwealth Consolidated Acts

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Dissemination of information about illegal transactions

    A person must not (whether in this jurisdiction or elsewhere) circulate or disseminate, or be involved in the circulation or dissemination of, any statement or information to the effect that the price for trading in financial products on a financial market operated in this jurisdiction will, or is likely to, rise or fall, or be maintained, because of a transaction, or other act or thing done, in relation to those financial products, if:

  (a)   the transaction, or thing done, constitutes or would constitute a contravention of section   1041A, 1041B, 1041C, 1041E or 1041F; and

  (b)   the person, or an associate of the person:

  (i)   has entered into such a transaction or done such an act or thing; or

  (ii)   has received, or may receive, directly or indirectly, a consideration or benefit for circulating or disseminating, or authorising the circulation or dissemination of, the statement or information.

Note 1:   Failure to comply with this section is an offence (see subsection   1311(1)). For defences to a prosecution based on this section, see Division   4.

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 Division   4 and section   1317S.

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