Document ID: chunk:federal_register_of_legislation:C2012A00155:clause:1_1020ai:p2
Version: federal_register_of_legislation:C2012A00155
Segment Type: clause
Provision Reference: sch 1 cl 1020AI (pt 2/2)
Character Range: 9773–10971

Defence for authorised representative
 (6) In any proceedings against an authorised representative of a financial services licensee for an offence based on subsection (3) or (5), it is a defence if:
 (a) the licensee had provided the representative with information or instructions about the giving of information statements for a class of CGS depository interests; and
 (b) the representative's failure to give an information statement for that class occurred because the representative was acting in reliance on that information or those instructions; and
 (c) the representative's reliance on that information or those instructions was reasonable.
Note: A defendant bears an evidential burden in relation to the matters in subsection (6). See subsection 13.3(3) of the Criminal Code.

Offence of failing to ensure authorised representative gives statement
 (7) A financial services licensee commits an offence if the licensee does not take reasonable steps to ensure that an authorised representative of the licensee complies with the representative's obligations under this section to give each information statement for a class of CGS depository interests as and when required by this section.