Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_992aa
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 992AA
Character Range: 498708–499595

992AA  Prohibition of hawking of managed investment products

 (1) A person must not offer interests in managed investment schemes for issue or sale in the course of, or because of:
 (a) an unsolicited meeting with another person; or
 (b) an unsolicited telephone call to another person;
unless the offer is exempted under subsection (2).

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

 (2) Subsection (1) does not apply to an offer of interests in managed investment schemes if:
 (a) the offer is not to a retail client;
 (b) the offer is an offer of interests in a listed managed investment scheme made by telephone by a financial services licensee; or
 (c) the offer is made to a client by a financial services licensee through whom the client has acquired or disposed of an interest in a managed investment scheme in the previous 12 months.