Document ID: chunk:federal_register_of_legislation:C2019A00050:clause:2_1023c
Version: federal_register_of_legislation:C2019A00050
Segment Type: clause
Provision Reference: sch 2 cl 1023C
Character Range: 53428–54191

1023C  Application of product intervention orders
 (1) A product intervention order does not apply to a financial product held by a person if the person acquired, or entered into a contract for the acquisition of, the product before the order comes into force.
 (2) A product intervention order does not apply to a person:
 (a) in the person's capacity as a retail client; or
 (b) who is in a class of persons specified in regulations made for the purposes of this paragraph.
 (3) The regulations may provide that this Part does not apply to a financial product specified in the regulations.
Note: In a prosecution for an offence, the defendant bears an evidential burden in relation to the matters in this section (see subsection 13.3(3) of the Criminal Code).