AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 12DM Assertion of right to payment for unsolicited financial services etc.

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 12DM

  (1)   A person must not, in trade or commerce, assert a right to payment from another person for unsolicited financial services.

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

  (1A)   Subsection   (1) does not apply if the person had reasonable cause to believe that there was a right to payment.

Note:   A defendant bears an evidential burden in relation to the matter in subsection   (1A), see subsection   13.3(3) of the Criminal Code .

  (1AA)   A person must not, in trade or commerce, send to another person an invoice or other document that:

  (a)   states the amount of a payment, or sets out the charge, for supplying unsolicited financial services; and

  (b)   does not contain a warning statement that complies with the requirements set out in the regulations.

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

  (1AB)   Subsection   (1AA) does not apply if the person had reasonable cause to believe that there was a right to the payment or charge.

Note:   A defendant bears an evidential burden in relation to the matter in subsection   (1AB), see subsection   13.3(3) of the Criminal Code .

  (1B)   An offence under subsection   12GB(1) relating to subsection   (1) or (1AA) of this section is an offence of strict liability.

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

  (4)   In a proceeding against a person in respect of a contravention of this section, the burden lies on the person of proving that the person had reasonable cause to believe that there was a right to payment.