sec.133Wrongful conversion and false accounts

sec.133 Wrongful conversion and false accounts

This section applies to each of the following persons— a debt collector; a subagent; a person who is not authorised under part 2 to perform a regulated activity, but who acts as if the person were authorised under part 2 to perform the activity. The person must not, if the person receives an amount belonging to someone else in performing a regulated activity— dishonestly convert the amount to the person’s own or someone else’s use; or dishonestly render an account of the amount knowing it to be false in a material particular. Maximum penalty—1000 penalty units or 5 years imprisonment. A person may make a claim, under the Administration Act , against the claim fund if the person suffers financial loss because of a contravention of this section. For a prosecution under subsection (2) (a) , it is enough for the prosecution to prove that the person dishonestly converted an amount belonging to someone else to the person’s own use or someone else’s use without having to prove that the amount belonged to a particular person. If conduct alleged to constitute an offence against subsection (2) is recurrent so that, but for this subsection, each instance of the conduct would allegedly constitute a separate offence, 2 or more instances of the conduct may be taken to constitute 1 alleged offence committed over the period stated in the complaint or indictment in relation to the conduct, and may be charged and proceeded against on 1 charge. A person must not represent that the person has received an amount in performing a regulated activity if the person knows the person did not receive the amount in performing a regulated activity, including, for example, by rendering an account of the amount. Maximum penalty for subsection (5) —540 penalty units. (sec.133-ssec.1) This section applies to each of the following persons— a debt collector; a subagent; a person who is not authorised under part 2 to perform a regulated activity, but who acts as if the person were authorised under part 2 to perform the activity. (sec.133-ssec.2) The person must not, if the person receives an amount belonging to someone else in performing a regulated activity— dishonestly convert the amount to the person’s own or someone else’s use; or dishonestly render an account of the amount knowing it to be false in a material particular. Maximum penalty—1000 penalty units or 5 years imprisonment. A person may make a claim, under the Administration Act , against the claim fund if the person suffers financial loss because of a contravention of this section. (sec.133-ssec.3) For a prosecution under subsection (2) (a) , it is enough for the prosecution to prove that the person dishonestly converted an amount belonging to someone else to the person’s own use or someone else’s use without having to prove that the amount belonged to a particular person. (sec.133-ssec.4) If conduct alleged to constitute an offence against subsection (2) is recurrent so that, but for this subsection, each instance of the conduct would allegedly constitute a separate offence, 2 or more instances of the conduct may be taken to constitute 1 alleged offence committed over the period stated in the complaint or indictment in relation to the conduct, and may be charged and proceeded against on 1 charge. (sec.133-ssec.5) A person must not represent that the person has received an amount in performing a regulated activity if the person knows the person did not receive the amount in performing a regulated activity, including, for example, by rendering an account of the amount. Maximum penalty for subsection (5) —540 penalty units.