Offence of failing to comply with requirements relating to client money account
Strict liability offence (1) A financial services licensee commits an offence if the licensee contravenes a requirement in regulations made for the purposes of section 981C. (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) a requirement in regulations made for the purposes of section 981C applies to the licensee; and (b) the licensee contravenes the requirement.
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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