THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.11 - CONDUCT IN RELATION TO SECURITIES

Division 2 - Prohibited conduct

SECTION 999   FALSE OR MISLEADING STATEMENTS IN RELATION TO SECURITIES  

999    A person must not make a statement, or disseminate information, that is false in a material particular or materially misleading and:

(aa)  is likely to induce other persons to subscribe for securities; or

(a)  is likely to induce the sale or purchase of securities by other persons; or

(b)  is likely to have the effect of increasing, reducing, maintaining or stabilising the market price of securities;

if, when the person makes the statement or disseminates the information:

(c)  the person does not care whether the statement or information is true or false; or

(d)  the person knows or ought reasonably to have known that the statement or information is false in a material particular or materially misleading.

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