Section 30
Refusal to register prospectus or product disclosure statement
The Registrar shall refuse to register a prospectus or product disclosure statement if—
(a)
the Registrar is of the opinion that the prospectus or product disclosure statement does not comply with any provision of this Act;
(b)
the issue or invitation in respect of interests to which the prospectus or product disclosure statement relates does not comply with this Act; or
(c)
the Registrar is of the opinion that the prospectus or product disclosure statement contains any statement or information that is false or misleading or that the prospectus or product disclosure statement contains any statement or information from which there is a material omission.
(2)
If the Registrar is of the opinion that the management company or the directors of the management company making such offer or invitation is not a fit and proper person to make such an issue or invitation to the public, the Registrar may refuse to register the prospectus or product disclosure statement, as the case may be.
(3)
For the purposes of subsection (2), “director” includes any person named in the prospectus or product disclosure statement.