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CORPORATIONS ACT 2001 - SECT 1020AC

Licensee disclosure

             (1)  Subsection (2) applies if:

                     (a)  the seller mentioned in subparagraph 1020AB(1)(a)(i) gives a financial services licensee information in accordance with section 1020AB in relation to a sale of section 1020B products on a licensed market; and

                     (b)  the following requirements are satisfied (if applicable):

                              (i)  if regulations made for the purposes of this subparagraph specify a kind of section 1020B product--the section 1020B products are of that kind;

                             (ii)  if regulations made for the purposes of this subparagraph specify a kind of section 1020B product--the section 1020B products are not of that kind;

                            (iii)  if regulations made for the purposes of this subparagraph specify circumstances in which the sale is made--the sale is made in those circumstances.

Offence

             (2)  The financial services licensee must:

                     (a)  give the entity mentioned in subsection (3) particulars specified in the regulations in relation to the circumstances mentioned in paragraph (1)(a); and

                     (b)  do so:

                              (i)  on or before the time specified in the regulations; and

                             (ii)  in the manner specified in the regulations.

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

             (3)  The entity is:

                     (a)  the operator of the licensed market mentioned in paragraph (1)(a); or

                     (b)  if the regulations specify another entity--that entity.



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