A person must not, in or in relation to a proposal for a third-party policy—
(a) make a statement or representation that the person knows is false or misleading in material particular; or
(b) omit from a statement or representation anything without which the statement or representation is, to the person's knowledge, misleading in a material particular; or
(c) fail to disclose a material fact of which the person has knowledge.
Maximum penalty: 20 penalty units.