Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.9 - FINANCIAL PRODUCT DISCLOSURE AND OTHER PROVISIONS RELATING TO ISSUE, SALE AND PURCHASE OF FINANCIAL PRODUCTS  

Division 7 - Enforcement  

Subdivision A - Offences  

SECTION 1021O   OFFENCES OF ISSUER OR SELLER OF FINANCIAL PRODUCT FAILING TO PAY MONEY INTO AN ACCOUNT AS REQUIRED  

1021O(1)   Strict liability offence.  

An issuer or seller of financial products commits an offence if:


(a) the issuer or seller is required by subsection 1017E(2) to pay particular money into an account in accordance with that subsection; and


(b) the issuer or seller does not pay the money into an account in accordance with that subsection.

1021O(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 .

1021O(3)   Ordinary offence.  

An issuer or seller of financial products commits an offence if:


(a) the issuer or seller is required by subsection 1017E(2) to pay particular money into an account in accordance with that subsection; and


(b) the issuer or seller does not pay the money into an account in accordance with that subsection.


 

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