Financial Sector Reform (Hayne Royal Commission Response) Act 2020 (135 of 2020)

Schedule 4   Caps on commissions

Australian Securities and Investments Commission Act 2001

4   After subsection 12GB(1)

Insert:

(1AA) A person commits an offence if the person contravenes section 12DMC.

Penalty: 60 penalty units.

(1AB) Subsection (1AA) is an offence of strict liability.