Securities and Futures Act 2001 · 2020 Revised Edition · Part 12 · Market Conduct
231. Parity of information defences
Feedback & supportIn any proceedings against a person for a contravention of section 218(2) or 219(2) because the person entered into, or procured another person to enter into, a transaction or agreement at a time when certain information was in the firstmentioned person’s possession, it is a defence if the court is satisfied that —
the information came into the firstmentioned person’s possession solely as a result of the information having been made known as referred to in section 215(b)(i); or
the other party to the transaction or agreement knew, or ought reasonably to have known, of the information before entering into the transaction or agreement.
In an action against a person for a contravention of section 218(3) or 219(3) because the person communicated information, or caused information to be communicated, to another person, it is a defence if the court is satisfied that —
the information came into the firstmentioned person’s possession solely as a result of the information having been made known as referred in section 215(b)(i); or
the other person knew, or ought reasonably to have known, of the information before the information was communicated.