69Restrictions on advertising and publicity

#### 69 Restrictions on advertising and publicity 69 Restrictions on advertising and publicity (cf Corporations Act s 734) > > (1) A person must not— > > > > > (a) advertise; or > > > > > (b) publish a statement that directly or indirectly refers to; > > > > an offer, or intended offer, of shares in a distributing co-operative unless a current disclosure statement relating to the shares is— > > > > > (c) registered with the Registrar under section 68; or > > > > > (d) lodged with the Registrar for registration under section 68. > > > > Maximum penalty—$1,000. > > > (2) Subsection (1) applies in relation to shares in a distributing co-operative only if— > > > > > (a) the shares are offered to persons who are not shareholders in the co-operative; or > > > > > (b) the invitation is made to persons who are not shareholders in the co-operative. > > > (3) 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. > > > (4) An offence based on subsection (1) is an offence of strict liability.