Document ID: chunk:federal_register_of_legislation:C2004C01246:clause:2_12dc
Version: federal_register_of_legislation:C2004C01246
Segment Type: clause
Provision Reference: sch 2 cl 12DC
Character Range: 62679–64351

12DC  False representations and other misleading or offensive conduct in relation to securities that involve interests in land

 (1) A corporation must not, in trade or commerce, in connection with the sale or grant, or the possible sale or grant, of a security that consists of or includes an interest in land, or in connection with the promotion by any means of the sale or grant of an interest in land:
 (a) represent that the corporation has a sponsorship, approval or affiliation it does not have; or
 (b) make a false or misleading representation concerning the nature of the interest in the land, the price payable for the security, the location of the land, the characteristics of the land, the use to which the land is capable of being put or may lawfully be put or the existence or availability of facilities associated with the land; or
 (c) offer gifts, prizes or other free items with the intention of not providing them or of not providing them as offered.

 (2) A corporation must not use physical force or undue harassment or coercion in connection with the sale or grant, or the possible sale or grant, of a security that consists of or includes an interest in land or the payment for an interest in land.

 (3) In this section:

interest, in relation to land, means:
 (a) a legal or equitable estate or interest in the land; or
 (b) a right of occupancy of the land, or of a building or part of a building erected on the land, arising by virtue of the holding of shares, or by virtue of a contract to purchase shares, in an incorporated company that owns the land or building; or
 (c) a right, power or privilege over, or in connection with, the land.