Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.8 - OTHER PROVISIONS RELATING TO CONDUCT ETC. CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE  

Division 9 - Enforcement  

SECTION 993C   OFFENCE OF FAILING TO COMPLY WITH REQUIREMENTS RELATING TO CLIENT MONEY ACCOUNT  


Strict liability offence

993C(1)    
A financial services licensee commits an offence if the licensee contravenes a requirement in regulations made for the purposes of section 981C .

993C(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

993C(3)    
A financial services licensee commits an offence if:

(a)    a requirement in regulations made for the purposes of section 981C applies to the licensee; and

(b)    the licensee contravenes the requirement.



 

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