Prohibition on giving misleading information etc
160D Prohibition on giving misleading information etc
Prohibition on giving misleading information etc.
A person (the giver) must not, in the course of engaging in a credit activity, give information or a document to another person if the giver knows, or is reckless as to whether, the information or document is:
false in a material particular; or
materially misleading.
Civil penalty: 5,000 penalty units.
Offence
A person commits an offence if:
the person gives information or a document to another person; and
the person does so in the course of engaging in a credit activity; and
the information or document is false in a material particular or materially misleading.
Criminal penalty: 5 years imprisonment.
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