Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

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 ).