New South Wales Consolidated Acts

LOAN FUND COMPANIES ACT 1976 - SECT 38

38 Offence for loan fund company to fail to repay money

(1) Any loan fund company which fails, within 1 month after a person has given notice to the company under section 35 of the cancellation of a contract, to repay any money due to or in respect of that person by virtue of section 36 (1) (d) is guilty of an offence and is liable on conviction to a penalty not exceeding 5 penalty units.

(2) On the conviction of a loan fund company of an offence under subsection (1), the court may make an order for the payment by the company of an amount equal to the money due from the company by virtue of section 36 (1) (d) to or in respect of the person referred to in subsection (1) unless the money has previously been recovered by that person under section 36 (2).