Division 1 Offences

152   Fraudulent conversion and false accounts of money received by licensee

(1)  This section applies to:

(a)  any money received by a licensee on behalf of any person in respect of any transaction in the licensee’s capacity as a licensee, or any part of any such money, and

(b)  any money so received that is held by the licensee as a stakeholder or in trust pending the completion of any transaction.

(2)  If the licensee fraudulently converts the money or any part of that money to his or her own use or to the use of any other person, the licensee is guilty of an indictable offence and liable to imprisonment for a term of not more than 10 years.

(3)  If the licensee fraudulently omits to account for, deliver or pay the money or any part of the money to the person from whom it was received or to the person or persons entitled to it, the licensee is guilty of an indictable offence and liable to imprisonment for a term of not more than 10 years.

(4)  If the licensee fraudulently renders an account of the money or any part of the money knowing the account to be false in any material particular, the licensee is guilty of an indictable offence and liable to imprisonment for a term of not more than 10 years.

(5)  On the prosecution of a person for an offence under this section it is not necessary to prove the fraudulent conversion by the accused of any specific sum of money if there is proof of a general deficiency on the examination of the books of account, or entries kept, or made by the accused, or otherwise, and the jury is satisfied that the accused fraudulently converted the deficient money or any part of it.

153   Fraudulent accounts for expenses, fees and other charges

If a licensee fraudulently renders an account of expenses, fees or other charges incidental to any transaction or proposed or contemplated transaction as a licensee knowing the account to be false in any material particular, the licensee is guilty of an indictable offence and liable to imprisonment for a term of not more than 10 years.

154   Failure to account

(1)  In this section:

failure to account for money in relation to a licensee has the same meaning as it has in section 92.

(2)  A licensee who fails to account for money held by the licensee on behalf of another person is guilty of an offence.

Maximum penalty: 1,000 penalty units for a corporation or 200 penalty units in any other case.

155   Offences by persons other than principal offenders

A person who:

(a)  aids, abets, counsels or procures a person to contravene, or

(b)  induces, or attempts to induce, a person, whether by threats or promises or otherwise, to contravene, or

(c)  is in any way, directly or indirectly, knowingly concerned in, or party to, the contravention by a person of, or

(d)  conspires with others to contravene,

a provision of this Act or the regulations is guilty of an offence against this Act or the regulations and liable to the same penalty as a person who contravenes the provision.

156   Operation of Crimes Act 1900 not affected

Nothing in this Division affects the generality of any provisions of the Crimes Act 1900.