Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 993D

Failing to pay loan money into account as required

  (1)   A financial services licensee contravenes this subsection if:

  (a)   the licensee is required by subsection   982B(1) to pay particular money into an account in accordance with that subsection; and

  (b)   the licensee does not pay the money into an account in accordance with that subsection.

Fault - based offence

  (2)   A person commits an offence if the person contravenes subsection   (1).

Strict liability offence

  (3)   A person commits an offence of strict liability if the person contravenes subsection   (1).

Civil liability

  (4)   A person contravenes this subsection if the person contravenes subsection   (1).

Note:   This subsection is a civil penalty provision (see section   1317E).