(1) A licensee commits an offence if:
(a) the licensee employs an individual in a position or for a function that requires a key person licence as declared by the Commission under section 124 (1); and
(b) the individual does not hold a key person licence; and
(c) section 124 (4) does not apply to the individual.
Maximum penalty: 250 penalty units.
(2) An offence against subsection (1) is an offence of strict liability.
(3) A person commits an offence if:
(a) the person intentionally holds the position or performs the functions of a key person for a licensee; and
(b) the person does not hold a key person licence; and
(c) section 124 (4) does not apply to the individual.
Maximum penalty: 100 penalty units.
(4) Strict liability applies to subsection (3)(b) and (c).
(5) It is a defence to a prosecution for an offence against subsection (1) or (3) if the defendant has a reasonable excuse.
Note for subsection (5)
The defendant has an evidential burden in relation to this defence (see section 43BU of the Criminal Code).