Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_993c
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 993C
Character Range: 502911–503546

993C  Offence of failing to comply with requirements relating to client money account

Strict liability offence

 (1) A financial services licensee commits an offence if the licensee contravenes a requirement in regulations made for the purposes of section 981C.

 (2) An offence based on subsection (1) is an offence of strict liability.

Note: For strict liability, see section 6.1 of the Criminal Code.

Ordinary offence

 (3) A financial services licensee commits an offence if:
 (a) a requirement in regulations made for the purposes of section 981C applies to the licensee; and
 (b) the licensee contravenes the requirement.