Corporations Act 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
PART 7.8
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OTHER PROVISIONS RELATING TO CONDUCT ETC. CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE
Division 9
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Enforcement
SECTION 993C
OFFENCE OF FAILING TO COMPLY WITH REQUIREMENTS RELATING TO CLIENT MONEY ACCOUNT
Strict liability offence
993C(1)
A financial services licensee commits an offence if the licensee contravenes a requirement in regulations made for the purposes of section 981C .
993C(2)
An offence based on subsection (1) is an offence of strict liability.
Ordinary offence
993C(3)
A financial services licensee commits an offence if: (a) a requirement in regulations made for the purposes of section 981C applies to the licensee; and (b) the licensee contravenes the requirement.
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteCCH Note: Division 9 is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
CCH Note: Section 993C is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
Strict liability offence
993C(1)
A financial services licensee commits an offence if the licensee contravenes a requirement in regulations made for the purposes of section 981C .
993C(2)
An offence based on subsection (1) is an offence of strict liability.
Note: For strict liability , see section 6.1 of the Criminal Code .
Ordinary offence
993C(3)
A financial services licensee commits an offence if: (a) a requirement in regulations made for the purposes of section 981C applies to the licensee; and (b) the licensee contravenes the requirement.
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