Document ID: chunk:federal_register_of_legislation:C2025C00185:section:1020ac
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 1020AC
Character Range: 4458657–4460023

1020AC  Licensee disclosure
 (1) Subsection (2) applies if:
 (a) the seller mentioned in subparagraph 1020AB(1)(a)(i) gives a financial services licensee information in accordance with section 1020AB in relation to a sale of section 1020B products on a licensed market; and
 (b) the following requirements are satisfied (if applicable):
 (i) if regulations made for the purposes of this subparagraph specify a kind of section 1020B product—the section 1020B products are of that kind;
 (ii) if regulations made for the purposes of this subparagraph specify a kind of section 1020B product—the section 1020B products are not of that kind;
 (iii) if regulations made for the purposes of this subparagraph specify circumstances in which the sale is made—the sale is made in those circumstances.

Offence
 (2) The financial services licensee must:
 (a) give the entity mentioned in subsection (3) particulars specified in the regulations in relation to the circumstances mentioned in paragraph (1)(a); and
 (b) do so:
 (i) on or before the time specified in the regulations; and
 (ii) in the manner specified in the regulations.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
 (3) The entity is:
 (a) the operator of the licensed market mentioned in paragraph (1)(a); or
 (b) if the regulations specify another entity—that entity.