Securities and Futures Act 2001 · 2020 Revised Edition · Part 4 · Holders of Capital Markets Services Licence and Representatives
99O. False statements in relation to notification of appointed, provisional or temporary representative
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Any principal who, in connection with the lodgment of any document under section 99H —
principal
“principal”, in relation to a representative, means a person whom the representative is in the direct employment of, is acting for or is acting by arrangement with, and on behalf of whom the representative carries or will carry out any regulated activity;
makes a statement which is false or misleading in a material particular; or
omits to state any matter or thing without which the document is misleading in a material respect,shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000.
Any individual who, in connection with the lodgment by his or her principal of any document under section 99H —
makes a statement to his or her principal which is false or misleading in a material particular, being a statement subsequently lodged with the Authority; or
omits to state any matter or thing to his or her principal as a result of which the document is misleading in a material respect,shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000.
Any person who, when required to provide any document or information to the Authority under section 99D(3), 99E(4) (in relation to the application of section 99D(3) to a provisional representative) or 99F(4) (in relation to the application of section 99D(3) to a temporary representative) —
makes a statement to the Authority which is false or misleading in a material particular; or
omits to state any matter or thing to the Authority without which the document or information is misleading in a material respect,shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000.
A person referred to in subsection (1), (2) or (3) shall not be guilty of an offence if the person proves that the person —
made all inquiries (if any) that were reasonable in the circumstances; and
after doing so, believed on reasonable grounds that the statement made or the omission to state the matter or thing (as the case may be) was not false or misleading.