(1) A corporation must not, in trade or commerce, in connection with the sale
or grant, or the possible sale or grant, of a security that consists of or
includes an interest in land, or in connection with the promotion by any means
of the sale or grant of an interest in land:
- (a)
- represent that the
corporation has a sponsorship, approval or affiliation it does not have; or
- (b)
- make a false or misleading representation concerning the nature of the
interest in the land, the price payable for the security, the location of the
land, the characteristics of the land, the use to which the land is capable of
being put or may lawfully be put or the existence or availability of
facilities associated with the land; or
- (c)
- offer gifts, prizes or other free items with the intention of not
providing them or of not providing them as offered.
(2) A corporation must not use physical force or undue harassment or coercion
in connection with the sale or grant, or the possible sale or grant, of a
security that consists of or includes an interest in land or the payment for
an interest in land.
(3) In this section:
"interest", in relation to land, means:
- (a)
- a legal or equitable estate or interest in the land; or
- (b)
- a right of occupancy of the land, or of a building or part of a building
erected on the land, arising by virtue of the holding of shares, or by virtue
of a contract to purchase shares, in an incorporated company that owns the
land or building; or
- (c)
- a right, power or privilege over, or in connection with, the land.
Commonwealth Numbered Acts