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 2 - Dealing with clients ' money  

Subdivision B - Loan money  

SECTION 982A   MONEY TO WHICH THIS SUBDIVISION APPLIES  

982A(1)    
Subject to subsection (2) , this Subdivision applies to money paid to a financial services licensee (the licensee ) by way of a loan from a person (the client ) in connection with activities authorised by the licensee's licence.

982A(2)    
If a person pays money to a financial services licensee:

(a)    in order for it to be deposited to the credit of a deposit product held by the person or another person with the licensee; or

(b)    on condition that it is to be repaid to the person by the licensee, as a debt, pursuant to the terms of a debenture or other financial product issued by the licensee;

that payment does not constitute money to which this Subdivision applies.



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