Document ID: chunk:federal_register_of_legislation:C2025C00185:section:1021o
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 1021O
Character Range: 4527429–4528345

1021O  Offences of issuer or seller of financial product failing to pay money into an account as required

Strict liability offence
 (1) An issuer or seller of financial products commits an offence if:
 (a) the issuer or seller is required by subsection 1017E(2) to pay particular money into an account in accordance with that subsection; and
 (b) the issuer or seller 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) An issuer or seller of financial products commits an offence if:
 (a) the issuer or seller is required by subsection 1017E(2) to pay particular money into an account in accordance with that subsection; and
 (b) the issuer or seller does not pay the money into an account in accordance with that subsection.