contravenes this section.
(2) For the purposes of subsection (1), a securities adviser does not
have a reasonable basis for making a securities recommendation to a person
unless:
- (a)
- in order to ascertain that the recommendation is appropriate
having regard to the information the securities adviser has about the person's
investment objectives, financial situation and particular needs, the
securities adviser has given such consideration to, and conducted such
investigation of, the subject matter of the recommendation as is reasonable in
all the circumstances; and
- (b)
- the recommendation is based on that consideration and investigation.
(3) A person who contravenes subsection (1) is not guilty of an offence.