FIRST HOME SAVER ACCOUNTS ACT 2008 (REPEALED)

PART 7 - PRUDENTIAL PROVISIONS  

Division 1 - Authorisation of RSE licensees as FHSA providers  

Subdivision F - Offences and self-incrimination  

SECTION 110   Providing an FHSA while unauthorised etc.  

110(1)    
A person commits an offence if:

(a) the person purports to provide an FHSA; and

(b) the person is not an RSE licensee that holds an authorisation as an FHSA provider; and

(c) either:

(i) the person is not an ADI; or

(ii) the person is an ADI with an authority granted under section 9 of the Banking Act 1959 that does not allow the person to provide an FHSA; and

(d) either:

(i) the person is not a life insurance company; or

(ii) the person is a life insurance company with conditions of registration imposed under section 22 of the Life Insurance Act 1995 that do not allow the person to provide an FHSA.

110(2)    
A person that contravenes subsection (1) commits an offence.

Penalty: Imprisonment for 2 years, or 120 penalty units, or both.

110(3)    
This section does not prevent an FHSA provider from engaging or authorising persons to act on its behalf.