Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A person must not, in trade or commerce, in connection with the supply or possible supply of financial services, or in connection with the promotion by any means of the supply or use of financial services:
(a) falsely represent that services are of a particular standard, quality, value or grade; or
(b) falsely represent that a particular person has agreed to acquire services; or
(c) represent that services have sponsorship, approval, performance characteristics, uses or benefits they do not have; or
(d) represent that the person has a sponsorship, approval or affiliation it does not have; or
(e) make a false or misleading representation with respect to the price of services; or
(f) make a false or misleading representation concerning the need for any services; or
(g) make a false or misleading representation concerning the existence, exclusion or effect of any condition, warranty, guarantee, right or remedy.
Note: Failure to comply with this subsection is an offence (see section 12GB).
(2) Conduct:
(a) that contravenes:
(i) section 670A of the Corporations Act (misleading or deceptive takeover document); or
(ii) section 728 of the Corporations Act (misleading or deceptive fundraising document); or
(b) in relation to a disclosure document or statement within the meaning of section 953A of the Corporations Act; or
(c) in relation to a disclosure document or statement within the meaning of section 1022A of the Corporations Act;
does not contravene subsection (1). For this purpose, conduct contravenes the provision even if the conduct does not constitute an offence, or does not lead to any liability, because of the availability of a defence.
(3) An offence under subsection 12GB(1) relating to subsection (1) of this section is an offence of strict liability.
Note: For strict liability , see section 6.1 of the Criminal Code .
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