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CORPORATIONS ACT 2001 - SECT 1023C

Application of product intervention orders

             (1)  A product intervention order does not apply to a financial product held by a person if the person acquired, or entered into a contract for the acquisition of, the product before the order comes into force.

             (2)  A product intervention order does not apply to a person:

                     (a)  in the person's capacity as a retail client; or

                     (b)  who is in a class of persons specified in regulations made for the purposes of this paragraph.

             (3)  The regulations may provide that this Part does not apply to a financial product specified in the regulations.

Note:          In a prosecution for an offence, the 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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