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 2
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Dealing with clients
'
money
Subdivision B
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Loan money
SECTION 982D
982D
PERMITTED USE OF LOAN
The licensee must only use the money: (a) for the purpose, and in the manner, set out in the statement given under section 982C ; or (b) for another purpose, or in another manner, agreed on in writing by the licensee and the client after the licensee gave the client the statement.
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 2 is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
CCH Note: Subdivision B is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
CCH Note: Section 982D is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
The licensee must only use the money: (a) for the purpose, and in the manner, set out in the statement given under section 982C ; or (b) for another purpose, or in another manner, agreed on in writing by the licensee and the client after the licensee gave the client the statement.
Note: Failure to comply with this section is an offence (see subsection 1311(1) ).
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