Commonwealth Consolidated Acts

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Offence if a Statement of Advice does not comply with certain requirements

             (1)  A financial services licensee, or an authorised representative of a financial services licensee, commits an offence if:

                     (a)  the licensee or representative gives (see subsection (3)) a person a Statement of Advice in circumstances in which it is required by a provision of this Part to be given to the person; and

                     (b)  the Statement of Advice does not comply with section 947A or 947E.

Note:          A defendant bears an evidential burden in relation to the matters in subsections 941C(1), (2), (3) and (3A). See subsection 13.3(3) of the Criminal Code .

             (2)  For the purposes of an offence based on subsection (1), strict liability applies to paragraph (b) of that subsection.

Note:          For strict liability , see section 6.1 of the Criminal Code .

             (3)  In this section, give means give by any means (including orally), and is not limited to the meaning it has because of section 940C.

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