500Disclosure defences for person in contravention

1. In any proceeding under this subpart against a person (A) for a contravention of section 82, 99, 427(2) or (6), 431P, or 431Y or clause 27 of Schedule 1 because of a statement that is false or misleading or that is likely to mislead, it is a defence if A proves that A—

2. made all inquiries (if any) that were reasonable in the circumstances; and
3. after doing so, believed on reasonable grounds that the statement was not false or misleading.

4. In any proceeding under this subpart against a person (A) for a contravention of section 82, 99, 427(2) or (6), 431P, or 431Y or clause 27 of Schedule 1 because of an omission from a disclosure document or register entry in relation to a particular matter, it is a defence if A proves that A—

5. made all inquiries (if any) that were reasonable in the circumstances; and
6. after doing so, believed on reasonable grounds that there was no omission from the disclosure document or register entry in relation to that matter.

7. In any proceeding under this subpart against a person (A) for a contravention of section 82 because of a circumstance referred to in section 82(1)(a)(iii), it is a defence if A proves that A was not aware of the matter.