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CORPORATIONS ACT 2001 - SECT 952H Financial services licensee failing to ensure authorised representative gives disclosure documents or statements as required

CORPORATIONS ACT 2001 - SECT 952H

Financial services licensee failing to ensure authorised representative gives disclosure documents or statements as required

Obligation

  (1)   A financial services licensee contravenes this subsection if the licensee does not take reasonable steps to ensure that an authorised representative of the licensee:

  (a)   complies with their obligations under this Part to give disclosure documents or statements as and when required; and

  (b)   without limiting paragraph   (a), does not, in purported compliance with obligations under this Part, give disclosure documents or statements that are defective.

Fault - based offence

  (2)   A person commits an offence if the person contravenes subsection   (1).

Civil liability

  (3)   A person contravenes this subsection if the person contravenes subsection   (1).

Note:   This subsection is a civil penalty provision (see section   1317E).

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