Section 1023C — Corporations Act 2001: Application of product intervention orders

(1) A product intervention order does not apply to a financial product held by a person if the person acquired, or entered into a contract for the acquisition of, the product before the order comes into force. (2) A product intervention order does not apply to a person: (a) in the person’s capacity as a retail client; or (b) who is in a class of persons specified in regulations made for the purposes of this paragraph. (3) The regulations may provide that this Part does not apply to a financial product specified in the regulations. Note: In a prosecution for an offence, the defendant bears an evidential burden in relation to the matters in this section (see subsection 13.3(3) of the Criminal Code).