Hi, I am studying Kaplan: Economic and Legal Context for FinancialPlanning (FPC001B). I am currently doing the Task. I am struggling with question 2. Please find same below.

Although I have dealt with the first part I would like some directin in the second and third part. I have highlighted my questions below:

Question 2

Find section 942C of the Corporations Act, and provide:

(i)the full text of the heading of the section, and the online address (hyperlink) and date you accessed it (1 mark) OK with this

ii) a brief summary of the purpose of the section (1 mark)

My answer: however I am unsure if this is eneogh. Section 942C(8) of the Corporations Act 2001 (Cth) sets out what must be in a 'Financial Services Guide Given by Authorised Representative, when it must be given and the penalties for convening the same.

(iii)the penalty applicable for a breach of section 942C(8).(1 mark)

It would seem to me that the penalty is 3 units with a maximum of 1 year jail. However I am not sure

I would be most happy for any assistance.

Thanks,

Mark