Section 952L — Corporations Act 2001: Offences if financial services licensee or authorised representative becomes aware that a Financial Services Guide, Supplementary FSG or website disclosure information is defective

(1) A financial services licensee commits an offence if: (a) the licensee has authorised an authorised representative of the licensee to distribute a Financial Services Guide, a Supplementary Financial Services Guide or website disclosure information; and (b) the licensee becomes aware that the Financial Services Guide, the Supplementary Financial Services Guide, or the website disclosure information is defective; and (c) the licensee does not, as soon as practicable, give the representative a direction that satisfies one or more of the following subparagraphs: (i) a direction not to distribute the Financial Services Guide or the Supplementary Financial Services Guide; (ii) a direction not to distribute the Financial Services Guide unless it is accompanied by a Supplementary Financial Services Guide that corrects the deficiency; (iii) a direction not to distribute the Financial Services Guide or the Supplementary Financial Services Guide without first altering it in a way that is specified in the direction, being a way that corrects the deficiency and that complies with section 942E or 943F; or (iv) a direction to alter the website disclosure information on its website in a way that is specified in the direction, being a way that corrects the deficiency and that complies with section 943M. (2) An authorised representative commits an offence if: (a) the representative is given a direction under subsection (1); and (b) the representative does not comply with the direction. (3) An authorised representative of a financial services licensee commits an offence if: (a) the licensee has authorised the representative to distribute a Financial Services Guide, a Supplementary Financial Services Guide or website disclosure information; and (b) the representative becomes aware that the Financial Services Guide, the Supplementary Financial Services Guide, or the website disclosure information is defective; and (c) the representative does not, as soon as practicable, notify the licensee of the particulars of the deficiency. (4) In this section, a reference to distributing a Financial Services Guide, a Supplementary Financial Services Guide or website disclosure information includes (but is not limited to) giving, reading or making available the document or statement to another person in purported compliance with a requirement of this Part.