Commonwealth Numbered Acts

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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 1205

Undesirable advertising

(1) In this section:

"broadcast", in relation to a statement, means broadcast the statement by wireless transmission or television or cause it to be so broadcast.

"publish", in relation to a statement, means:

insert the statement in a newspaper or periodical or cause it to be so inserted; or

publicly exhibit the statement or cause it to be publicly exhibited; or

include the statement, or cause it to be included, in a document that, whether or not in response to a request, is sent or delivered to a person, or thrown or left upon premises in the occupation of a person.

(2) Where ASIC considers that, having regard to conduct that a person has engaged in, is engaging in, or proposes to engage in, it is in the public interest to do so, it may, by written order given to the person, prohibit the person from publishing or broadcasting statements about:

futures contracts; or

businesses carried on, or proposed to be carried on, by persons and involving dealing in futures contracts on behalf of other persons; or

futures advice businesses or proposed futures advice businesses;

unless the form and content of the statements have first been approved by ASIC.

(3) An order under subsection (2) must not be made unless ASIC has first given the person in relation to whom it proposes to make the order an opportunity to appear at a hearing before ASIC (being a hearing that takes place in private) and make submissions and give evidence to ASIC in relation to the matter. (4) A person the subject of an order under subsection (2) must comply with the order. (5) For the purposes of this section, where a statement is published or broadcast and there is also published or broadcast in relation to the statement:

the name or address of a person; or

the telephone or telex number of a person; or

the post office or other delivery box number of a person;

it is presumed, unless the contrary is proved, that the statement was published or broadcast by that person.

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