THE CORPORATIONS LAW
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82 The Corporations Law is as follows:...
CHAPTER 6D - FUNDRAISING
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Hide history notePART 6D.3 - PROHIBITIONS, LIABILITIES AND REMEDIES
Division 1 - Prohibitions and liabilities
SECTION 731 DUE DILIGENCE DEFENCE FOR PROSPECTUSES 731(1) Reasonable inquiries and reasonable belief - statements. A person does not commit an offence against subsection 728(3), and is not liable under section 729 for a contravention of subsection 728(1), because of a misleading or deceptive statement in a prospectus if the person proves that they: (a) made all inquiries (if any) that were reasonable in the circumstances; and (b) after doing so, believed on reasonable grounds that the statement was not misleading or deceptive. 731(2) Reasonable inquiries and reasonable belief - omissions. A person does not commit an offence against subsection 728(3), and is not liable under section 729 for a contravention of subsection 728(1), because of an omission from a prospectus in relation to a particular matter if the person proves that they: (a) made all inquiries (if any) that were reasonable in the circumstances; and (b) after doing so, believed on reasonable grounds that there was no omission from the prospectus in relation to that matter.
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