Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_1018a:p2
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 1018A (pt 2/3)
Character Range: 630173–632818

Disclosure Statement in deciding whether to acquire, or continue to hold, the product.

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

Distribution of disclosure document

 (3) A person may distribute a Product Disclosure Statement without contravening subsection (1) or (2). This does not apply if an order under section 1020E is in force in relation to the product.

Note: A defendant bears an evidential burden in relation to the matters in this section. See subsection 13.3(3) of the Criminal Code.

General exceptions

 (4) An advertisement or publication does not contravene subsection (1) or (2) if it:
 (a) relates to a financial product that is able to be traded on a financial market and consists of a notice or report by the issuer of the product, or one of its officers, about its affairs to the market operator; or
 (b) consists solely of a notice or report of a general meeting of the issuer; or
 (c) consists solely of a report about the issuer that is published by the issuer and:
 (i) does not contain information that materially affects affairs of the issuer, other than information previously made available in a Product Disclosure Statement that has been distributed or disclosure document that has been lodged with ASIC, an annual report or a notice or report referred to in paragraph (a) or (b); and
 (ii) does not refer (whether directly or indirectly) to the offer of the financial product; or
 (d) is a news report, or is genuine comment, in the media relating to:
 (i) a Product Disclosure Statement that has been distributed or disclosure document that has been lodged with ASIC; or
 (ii) information contained in such a Statement or document; or
 (iii) a notice or report covered by paragraph (a), (b) or (c); or
 (e) is a report about the financial products of the issuer published by someone who is not:
 (i) the issuer; or
 (ii) acting at the instigation of, or by arrangement with, the issuer; or
 (iii) a director of the issuer; or
 (iv) a person who has an interest in the success of the issue or sale of the financial product.
Paragraphs (d) and (e) do not apply if anyone gives consideration or another benefit for publishing the report.

Note: A defendant bears an evidential burden in relation to the matters in this section. See subsection 13.3(3) of the Criminal Code.

Liability of publishers

 (5) A person does not contravene subsection (1) or (2) by publishing an advertisement or statement if the person:
 (a) publishes it in the ordinary course of a media business; and
 (b) did not know, and had no reason to suspect, that its publication would amount to a