CORPORATIONS ACT 2001 - SECT 993C Offence of failing to comply with requirements relating to client money account

CORPORATIONS ACT 2001 - SECT 993C

Strict liability offence

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

  (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)   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.