Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
CCH Note: Division 9 is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
CCH Note: Section 993B is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
Strict liability offence
993B(1)
A financial services licensee commits an offence if: (a) the licensee is required by subsection 981B(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.
993B(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
993B(3)
A financial services licensee commits an offence if: (a) the licensee is required by subsection 981B(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.
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