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.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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