Document ID: chunk:federal_register_of_legislation:C2004C01246:clause:2_12di
Version: federal_register_of_legislation:C2004C01246
Segment Type: clause
Provision Reference: sch 2 cl 12DI
Character Range: 67741–68447

12DI  Accepting payment without intending or being able to supply as ordered

  A corporation must not, in trade or commerce, accept payment or other consideration for financial services if, at the time of the acceptance:
 (a) the corporation intends:
 (i) not to supply the services; or
 (ii) to supply services materially different from the services in respect of which the payment or other consideration is accepted; or
 (b) there are reasonable grounds, of which the corporation is aware or ought reasonably to be aware, for believing that the corporation will not be able to supply the services within the period specified by the corporation or, if no period is specified, within a reasonable time.