Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_993d
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 993D
Character Range: 503546–504511

993D  Offence of failing to pay loan money into an account as required

Strict liability offence

 (1) A financial services licensee commits an offence 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.

 (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) 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.

Part 7.9—Financial product disclosure and other provisions relating to issue and sale of financial products

Division 1—Preliminary