Section 993D — Corporations Act 2001: Failing to pay loan money into an account as required

Failing to pay loan money into account as required (1) A financial services licensee contravenes this subsection if: (a) the licensee is required by subsection 982B(1) to pay particular money into an account in accordance with that subsection; and (b) the licensee does not pay the money into an account in accordance with that subsection. Fault-based offence (2) A person commits an offence if the person contravenes subsection (1). Strict liability offence (3) A person commits an offence of strict liability if the person contravenes subsection (1). Civil liability (4) A person contravenes this subsection if the person contravenes subsection (1). Note: This subsection is a civil penalty provision (see section 1317E).