Due diligence defence
140C Due diligence defence
A person is not liable under this Division in relation to a contravention of section 140A(1) because of a misleading or deceptive statement if the person proves they —
made all inquiries (if any) that were reasonable in the circumstances; and
after doing so, believed on reasonable grounds that the statement was not misleading or deceptive.
A person is not liable under this Division in relation to a contravention of section 140A(1) because of an omission from a disclosure statement in relation to a particular matter or particular information if the person proves they —
made all inquiries (if any) that were reasonable in the circumstances; and
after doing so, believed on reasonable grounds that there was no omission from the statement in relation to that matter or information.
A person is not liable under this Division in relation to a contravention of section 140A(2) because a disclosure statement is not current if the person proves they —
made all inquiries (if any) that were reasonable in the circumstances; and
after doing so, believed on reasonable grounds that the statement was current.
[Section 140C inserted: No. 7 of 2016 s. 39.]
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