Commonwealth Consolidated Acts

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Prohibition on advertising personal offers covered by section 1012E

             (1)  A person must not advertise an offer, or intended offer, of financial products that would not need a Product Disclosure Statement because of section 1012E .

Note:          Failure to comply with this subsection is an offence (see subsection 1311(1)).

             (2)  A person does not contravene subsection (1) by publishing an advertisement or statement if the person:

                     (a)  publishes it in the ordinary course of a media business; and

                     (b)  did not know, and had no reason to suspect, that a Product Disclosure Statement was needed.

For this purpose, media has the same meaning as it has in section 1018A.

Note:          A defendant bears an evidential burden in relation to the matters in this section. See subsection 13.3(3) of the Criminal Code.

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