Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_982a
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 982A
Character Range: 454925–455645

982A  Money to which this Subdivision applies

 (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.

 (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.