Document ID: chunk:federal_register_of_legislation:C2025C00185:section:738zg:p1
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 738ZG (pt 1/3)
Character Range: 2886099–2888834

738ZG  Restrictions on advertising and publicity

Prohibition
 (1) A person must not:
 (a) advertise a CSF offer or an intended CSF offer; or
 (b) publish a statement that:
 (i) directly or indirectly refers to a CSF offer or an intended CSF offer; or
 (ii) is reasonably likely to induce people to apply for securities pursuant to a CSF offer or an intended CSF offer.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
 (2) None of the following constitutes advertising a CSF offer, or publishing a statement, as mentioned in subsection (1):
 (a) the publication of a CSF offer or a CSF offer document (or both), or any other information relating to a CSF offer, on a platform of the responsible intermediary;
 (b) an advertisement or publication that does not refer to any particular CSF offer or intended CSF offer, and that does either or both of the following:
 (i) identifies a person as being a CSF intermediary;
 (ii) provides general material about the services provided by a CSF intermediary.
Paragraph (a) does not apply to statements made on the communication facility for a CSF offer.
Note: Subsection (8) deals with statements made on the communication facility for a CSF offer. For the meaning of communication facility, see subsection 738ZA(5).
 (3) In deciding for the purposes of subsection (1) whether a statement:
 (a) indirectly refers to a CSF offer, or intended CSF offer, of securities; or
 (b) is reasonably likely to induce people to apply for securities pursuant to a CSF offer or an intended CSF offer;
have regard to whether the statement:
 (c) forms part of the normal advertising of a body's products or services and is genuinely directed at maintaining its existing customers, or attracting new customers, for those products or services; and
 (d) communicates information that materially deals with the affairs of the body; and
 (e) is likely to encourage investment decisions being made on the basis of the statement rather than on the basis of information contained in a CSF offer document.
 (4) Subsection (1) does not apply if any of subsections (6) to (9) provide that the advertisement or publication does not contravene subsection (1).
Note: A defendant bears an evidential burden in relation to the matter in this subsection (see subsection 13.3(3) of the Criminal Code).
 (5) An offence based on subsection (1) is an offence of strict liability.

Exception for publicising CSF offer or intended CSF offer
 (6) An advertisement or publication that refers to a CSF offer or an intended CSF offer does not contravene subsection (1) if the advertisement or publication states that a person should, in deciding whether to make an application pursuant to the offer,