467Restrictions on advertising and publicity—debentures or CCUs

#### 467 Restrictions on advertising and publicity—debentures or CCUs 467 Restrictions on advertising and publicity—debentures or CCUs > > (1) A person must not— > > > > > (a) advertise; or > > > > > (b) publish a statement that directly or indirectly refers to; > > > > an offer, or intended offer, of debentures or CCUs in a participating co-operative unless— > > > > > (c) a disclosure statement relating to the debentures or CCUs is approved under a provision of the relevant corresponding co-operatives law of another jurisdiction that corresponds to section 338 by the Registrar for the other jurisdiction; and > > > > > (d) any other applicable requirements specified in the National Regulations for the purposes of this section are complied with. > > > > Maximum penalty—$1,000. > > > (2) A person does not contravene subsection (1) by publishing an advertisement or statement if they publish it in the ordinary course of a business of— > > > > > (a) publishing a newspaper or magazine; or > > > > > (b) broadcasting by radio or television; > > > > and the person did not know and had no reason to suspect that its publication would amount to a contravention of a provision of that subsection. > > > (3) An offence based on subsection (1) is an offence of strict liability.