Section 982A — Corporations Act 2001: Money to which this Subdivision applies

(1) Subject to subsection (2), this Subdivision applies to money paid to a financial services licensee (the licensee) by way of a loan from a person (the client) in connection with activities authorised by the licensee’s licence. (2) If a person pays money to a financial services licensee: (a) in order for it to be deposited to the credit of a deposit product held by the person or another person with the licensee; or (b) on condition that it is to be repaid to the person by the licensee, as a debt, pursuant to the terms of a debenture or other financial product issued by the licensee; that payment does not constitute money to which this Subdivision applies.