CTHRepealedAct
Australian Securities and Investments Commission Act 1989
12DIAccepting payment without intending or being able to supply as ordered
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#### 12DI Accepting payment without intending or being able to supply as ordered
A corporation must not, in trade or commerce, accept payment or other consideration for financial services if, at the time of the acceptance:
(a) the corporation intends:
(i) not to supply the services; or
(ii) to supply services materially different from the services in respect of which the payment or other consideration is accepted; or
(b) there are reasonable grounds, of which the corporation is aware or ought reasonably to be aware, for believing that the corporation will not be able to supply the services within the period specified by the corporation or, if no period is specified, within a reasonable time.