Offence of failing to pay client money into an account as required
Strict liability offence (1) A financial services licensee commits an offence if: (a) the licensee is required by subsection 981B(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. (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) the licensee is required by subsection 981B(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.
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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