Section 994G — Corporations Act 2001: Notice to ASIC

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.