Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
CCH 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 982A is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
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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