Pt 6D.2 heading substituted by No 17 of 2017, s 3, Sch 1 (effective 28 September 2017).
SECTION 722 APPLICATION MONEY TO BE HELD ON TRUST
722(1) [Money in trust]
(a) all application money received from people applying for securities under the disclosure document; and
(b) all other money paid by them on account of the securities before they are issued or transferred;
in trust under this section for the applicants until:
(c) the securities are issued or transferred; or
(d) the money is returned to the applicants.
722(2) [Return of trust money]
722(3) [Strict liability offence]
Note: For strict liability, see section 6.1 of the Criminal Code.
S 722(3) inserted by No 117 of 2001, s 3, Sch 1 (effective 15 December 2001).