AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 12DV Exception for product covered by product intervention order

AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 12DV

  (1)   Section   12DQ does not apply in relation to the sale of an add - on insurance product by a person if a product intervention order in force under Part   7.9A of the Corporations Act 2001 :

  (a)   covers that sale; and

  (b)   provides for a period during which the product must not be sold.

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

  (2)   Sections   12DR and 12DS do not apply in relation to:

  (a)   an offer to issue or sell; or

  (b)   a request or invitation to ask or apply for;

an add - on insurance product that would, if offered to a consumer, be covered by a product intervention order in force under Part   7.9A of the Corporations Act 2001 that provides for a period during which the product must not be sold to the consumer.

Note:   A defendant bears an evidential burden in relation to the matter in subsection   (2): see subsection   13.3(3) of the Criminal Code .