FIRST HOME SAVER ACCOUNTS ACT 2008 (REPEALED)
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.
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