Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 1261

1261. (1) Where:

   (a)  a person makes a statement, or disseminates information, that is false
        or misleading in a material particular and is likely:

        (i)    to induce other persons to enter into dealings in futures
               contracts on a futures market in Australia; or

        (ii)   to have the effect of raising, lowering, maintaining or
               stabilising the price for dealings in futures contracts, or in
               a class of futures contracts, on a futures market in Australia;
               and

   (b)  at the time when the person makes the statement, or disseminates the
        information:

        (i)    the person is recklessly indifferent as to whether or not the
               statement or information is true or false; or

        (ii)   the person knows, or ought reasonably to know, that the
               statement is false or misleading in a material particular; each
               of the succeeding subsections has effect without prejudice to
               the effect of any of the others.

(2) If the person is a corporation, the person contravenes this section.

(3) If the other persons are or include corporations, the person contravenes
this section.

(4) If the futures market referred to in subparagraph (1) (a) (i) or (ii) is
an eligible futures market, the person contravenes this section.

(5) If the dealings referred to in subparagraph (1) (a) (i) or (ii) are or
include dealings by, or on behalf of, corporations, the person contravenes
this section.

(6) If the dealings referred to in subparagraph (1) (a) (i) or (ii) are or
include dealings in eligible circumstances, the person contravenes this
section.