Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteCCH note - modifying legislative instruments: The application of Pt 7.8A is affected by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (Card Facility Transfer) Instrument 2024/486.
The application of Pt 7.8A is also affected by Class Order 14/1262: Relief for 31 Day Notice Term Deposits.
For other legislative instruments or class orders before 1 January 2022 that affect the application of Pt 7.8A, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
CCH Note: Division 3 is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
CCH Note: Section 994G is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
If: (a) a person makes a target market determination for a financial product; and (b) the person becomes aware of a significant dealing in the product in relation to a retail client (except a dealing of a kind referred to in paragraph (a) of the definition of excluded conduct in subsection 994A(1) ); and (c) the person becomes aware that the dealing is not consistent with the determination;
the person must give written notice to ASIC as soon as practicable, and in any case within 10 business days, after becoming so aware.
Note 1: Failure to comply with this section is an offence (see subsection 1311(1) ).
Note 2: This section is also a civil penalty provision (see section 1317E ). For relief from liability to a civil penalty relating to this section, see section 1317S .
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.