For offences under s 999 of the Corporations Act 2001 (Cth) involving materially misleading prospectus statements, where the offender ought reasonably to have known (rather than actually knew) the statements were misleading, was not motivated by personal profit, and had exemplary prior character, a sentence of 2 years' imprisonment (release after 12 months) was manifestly excessive; 12 months' imprisonment (release after 5 months) was substituted. The mortgage broker-investor relationship does not involve the same trust and confidence as the employer-employee relationship in stealing as a servant, limiting the analogy for general deterrence purposes.
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