24
In forceDuty of licensee to notify failure to account
Part 3General conduct of licensees
Division 2Business practices and supervision
24 Duty of licensee to notify failure to account
(1)
A licensee must notify the Secretary as soon as practicable after becoming aware of any failure to account by the licensee.
Maximum penalty—50 penalty units.
(2)
In this section—
failure to account has the same meaning as in Part 8 (Management and receivership).
This Act’s bill:Explanatory memorandumSecond reading speech
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