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 993D   FAILING TO PAY LOAN MONEY INTO AN ACCOUNT AS REQUIRED  

Failing to pay loan money into account as required

993D(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

993D(2)  
A person commits an offence if the person contravenes subsection (1). Strict liability offence

993D(3)  
A person commits an offence of strict liability if the person contravenes subsection (1). Civil liability

993D(4)  
A person contravenes this subsection if the person contravenes subsection (1).

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


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