Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.8 - OTHER PROVISIONS RELATING TO CONDUCT ETC. CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE  

Division 9 - Enforcement  

SECTION 993C   OFFENCE OF FAILING TO COMPLY WITH REQUIREMENTS RELATING TO CLIENT MONEY ACCOUNT  

993C(1)   Strict liability offence.  

A financial services licensee commits an offence if the licensee contravenes a requirement in regulations made for the purposes of section 981C .

993C(2)   [ Strict liability offence]  

An offence based on subsection (1) is an offence of strict liability.

Note: For strict liability , see section 6.1 of the Criminal Code .

993C(3)   Ordinary offence.  

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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