Banking Act 1959
11AABBreach of authority conditions
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11AAB Breach of authority conditions
(1) A body corporate commits an offence if: (a) the body corporate does an act or fails to do an act; and (b) doing the act or failing to do the act results in a contravention of a condition of the body corporate’s NOHC authority; and (c) there is no determination in force under section 11 that this subsection does not apply to the body corporate.
Penalty: 300 penalty units.
(2) If an individual: (a) commits an offence against subsection (1) because of Part 2.4 of the Criminal Code; or (b) commits an offence under Part 2.4 of the Criminal Code in relation to an offence against subsection (1); he or she is punishable, on conviction, by a fine not exceeding 60 penalty units. (3) An offence against this section is an offence of strict liability.
Note: For strict liability, see section 6.1 of the Criminal Code.