Document ID: chunk:federal_register_of_legislation:C2025C00185:section:993d
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 993D
Character Range: 4155180–4156097

993D  Failing to pay loan money into an account as required

Failing to pay loan money into account as required
 (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
 (2) A person commits an offence if the person contravenes subsection (1).

Strict liability offence
 (3) A person commits an offence of strict liability if the person contravenes subsection (1).

Civil liability
 (4) A person contravenes this subsection if the person contravenes subsection (1).
Note: This subsection is a civil penalty provision (see section 1317E).

Part 7.8A—Design and distribution requirements relating to financial products for retail clients

Division 1—Preliminary