Document ID: chunk:federal_register_of_legislation:C2004A01719:body:0:p40
Version: federal_register_of_legislation:C2004A01719
Segment Type: other
Provision Reference: 
Character Range: 95799–98472

engage or participate, or to offer or apply to engage or participate, in a business activity requiring the investment of moneys by the persons concerned and the performance by them of work associated with the investment, the corporation shall not make, with respect to the profitability or risk or any other material aspect of the business activity, a statement that is false or misleading in a material particular.".

Product safety standards.
36. Section 62 of the Principal Act is amended—
(a) by omitting sub-section (1) and substituting the following sub-section:—
    "(1) A corporation shall not, in trade or commerce, supply goods that are intended to be used, or are of a kind likely to be used, by a consumer if the goods are of a kind—
       (a) in respect of which there is a prescribed consumer product safety standard and which do not comply with that standard; or
       (b) in respect of which there is in force a notice under this section declaring the goods to be unsafe goods.'';
     (b) by omitting sub-section (2a) and substituting the following sub-sections:—
    "(2aa) Sub-section (1) does not apply to goods that are intended to be used outside Australia.

    "(2a) If there is applied to goods—
       (a) a statement that the goods are for export only; or
       (b) a statement indicating by the use of words authorized by the regulations to be used for the purposes of this sub-section that the goods are intended to be used outside Australia,
    it shall be presumed for the purposes of this section, unless the contrary is established, that the goods are intended to be so used.";
     (c) by inserting after sub-section (2c) the following sub-sections:—
    "(2d) Where it appears to the Minister that goods of a particular kind will or may cause injury to persons using the goods, he may, by notice under his hand published in the Gazette, declare the goods to be unsafe goods.
    "(2e) A notice under sub-section (2d) has effect until the expiration of 18 months after the date of publication of the notice in the Gazette unless it is revoked before the expiration of that period."; and
     (d) by adding at the end thereof the following sub-section:—
    "(4) Where—
       (a) the supplying of goods by a corporation constitutes a contravention of this section by reason that there is in force a notice under this section declaring the goods to be unsafe goods; and
       (b) a person suffers loss or damage by reason of a defect in the goods or by reason of his not having particular information as to a characteristic of the goods,
    the person shall be deemed for the purposes of this Act to have suffered the loss or damage