Document ID: chunk:federal_register_of_legislation:C2025C00185:section:1021c:p1
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 1021C (pt 1/2)
Character Range: 4493136–4496109

1021C  Offence of failing to give etc. a disclosure document or statement

Strict liability offence
 (1) A person (the providing entity) commits an offence if:
 (a) the providing entity:
 (i) is required by a provision of this Part to give another person a Product Disclosure Statement or a Supplementary Product Disclosure Statement (the required disclosure document or statement); or
 (ii) is required by paragraph 1012G(3)(a) to orally communicate information (the required disclosure document or statement) to another person; and
 (b) the providing entity does not:
 (i) if subparagraph (a)(i) applies—give (in accordance with section 1015C) the other person anything purporting to be the required disclosure document or statement by the time they are required to do so; or
 (ii) if subparagraph (a)(ii) applies—orally communicate to the other person anything purporting to be the information required by paragraph 1012G(3)(a) by the time they are required to do so.
Note: A defendant bears an evidential burden in relation to the matters in sections 1012D, 1012DAA, 1012DA and 1012E.
 (2) An offence based on subsection (1) is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.

Ordinary offence
 (3) A person (the providing entity) commits an offence if:
 (a) the providing entity:
 (i) is required by a provision of this Part to give another person a Product Disclosure Statement or a Supplementary Product Disclosure Statement (the required disclosure document or statement); or
 (ii) is required by paragraph 1012G(3)(a) to orally communicate information (the required disclosure document or statement) to another person; and
 (b) the providing entity does not:
 (i) if subparagraph (a)(i) applies—give (in accordance with section 1015C) the other person anything purporting to be the required disclosure document or statement by the time they are required to do so; or
 (ii) if subparagraph (a)(ii) applies—orally communicate to the other person anything purporting to be the information required by paragraph 1012G(3)(a) by the time they are required to do so.
Note: A defendant bears an evidential burden in relation to the matters in sections 1012D, 1012DAA, 1012DA and 1012E.

Defence for authorised representative
 (4) In any proceedings against an authorised representative of a financial services licensee for an offence based on subsection (1) or (3), it is a defence if:
 (a) the licensee had provided the representative with information or instructions about the giving or communication of disclosure documents or statements; and
 (b) the representative's failure to give or communicate the required disclosure document or statement occurred because the representative was acting in reliance on that information or those instructions; and
 (c) the representative's reliance on that information or those instructions was reasonable.
Note: A defendant bears an evidential burden in relation to the matters in