Document ID: chunk:federal_register_of_legislation:C2025C00113:section:17d
Version: federal_register_of_legislation:C2025C00113
Segment Type: section
Provision Reference: s 17D
Character Range: 49306–51261

17D  Giving false or misleading information to auditor

Offence—person knows the information is false or misleading etc.
 (1) A person commits an offence if:
 (a) the person is:
 (i) a financial sector entity; or
 (ii) an employee, officer or trustee of a financial sector entity; and
 (b) the person gives information, or allows information to be given, to an auditor of the financial sector entity; and
 (c) the information relates to the affairs of the financial sector entity; and
 (d) the person knows that the information:
 (i) is false or misleading in a material particular; or
 (ii) is missing something that makes the information misleading in a material respect.
Penalty: Imprisonment for 5 years or 200 penalty units, or both.

Offence—person fails to ensure the information is not false or misleading etc.
 (2) A person commits an offence if:
 (a) the person is an employee or officer of a financial sector entity; and
 (b) the person gives information, or allows information to be given, to an auditor of the financial sector entity; and
 (c) the information relates to the affairs of the financial sector entity; and
 (d) the information:
 (i) is false or misleading in a material particular; or
 (ii) is missing something that makes the information misleading in a material respect; and
 (e) the person did not take reasonable steps to ensure that the information:
 (i) was not false or misleading in a material particular; or
 (ii) was not missing something that makes the information misleading in a material respect.
Penalty: Imprisonment for 2 years or 100 penalty units, or both.

Determining whether information is false or misleading
 (3) If information is given to the auditor in response to a question asked by the auditor, the information and the question must be considered together in determining whether the information is false or misleading.

Division 3—Administrative penalties in lieu of prosecution for certain offences