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ADO Charting and Technical Analysis, page-3970

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    A person's honest belief is not a defence to liability for misleading or deceptive conduct. Whether a forward looking statement is misleading depends on whether an objectively reasonable basis existed for its making at the time it was made. This principle is enshrined in legislation by section 4 of the Australian Consumer Law at Sch 2 of the Competition and Consumer Act.
 
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