Commonwealth Consolidated Acts

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 12DE

             (1)  A person contravenes this subsection if:

                     (a)  the person offers gifts, prizes or other free items; and

                     (b)  the person offers the gifts, prizes or other free items 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; and

                     (c)  when the person so offers them, the person intends not to provide them, or not to provide them as offered.

Note:          Failure to comply with this subsection is an offence (see section 12GB).

             (2)  For the purposes of the application of the Criminal Code in relation to subsection (1), paragraphs (1)(b) and (c) are taken to be circumstances in which the conduct described in paragraph (1)(a) occurs.

             (3)  For the purposes of the application of the Criminal Code in relation to an offence under subsection 12GB(1), strict liability applies in relation to paragraph (1)(b) of this section.

Note:          For strict liability , see section 6.1 of the Criminal Code .