Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteCCH note - modifying legislative instruments: The application of Pt 7.6 is affected by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (Custody Standards for Providers of Custodial and Depository Services) Instrument 2024/17 (other than Divs 4 and 8); the ASIC Corporations (Investor Directed Portfolio Services) Instrument 202 3/6 69 (as amended by ASIC Corporations (Amendment) Instrument 2024/554) (other than Divs 4 and 8); the ASIC Corporations (Record-Keeping Requirements for Australian Financial Services Licensees when Giving Personal Advice) Instrument 2024/508 (other than Divs 4 and 8); the ASIC Corporations (31-day Notice Term Deposits) Instrument 2025/172 (other than Divs 4 and 8); and the ASIC Corporations and Credit (Breach Reporting - Reportable Situations) Instrument 202 4/6 20 (other than Divs 4 and 8) (as amended by ASIC Corporations and Credit (Amendment) Instrument 2025/289).
The application of Pt 7.6 is also affected by the Class Order 1 [frac412] 62: Relief for 31 Day Notice Term Deposits (other than Divs 4 and 8); and the ASIC Corporations, Credit and Superannuation (Internal Dispute Resolution) Instrument 2020/98 (other than Divs 4 and 8).
For other legislative instruments or class orders before 1 January 2022 that affect the application of Pt 7.6, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
CCH note - modifying legislative instruments: The application of Division 5 is affected by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (Financial Requirements for Issuers of Retail OTC Derivatives) Instrument 2022/705; the ASIC Corporations (Financial Requirements for Responsible Entities, IDPS Operators and Corporate Directors of Retail CCIVs) Instrument 202 3/6 47; and the ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 202 3/6 48.
For legislative instruments or class orders before 1 January 2022 that affect the application of Division 5, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
CCH note: This provision is modified by legislative instruments. See the CCH note at the end of the provision for details.
One person can be the authorised representative of 2 or more financial services licensees, but only if: (a) each of those licensees has consented to the person also being the authorised representative of each of the other licensees; or (b) each of those licensees is a related body corporate of each of the other licensees; or (c) the only financial services provided by the person as authorised representative of any financial services licensee are claims handling and settling services.
916C(2)
A purported authorisation given in breach of this requirement is void.
916C(3)
A person must not give a purported authorisation if that purported authorisation is in breach of this requirement.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).
CCH note - modifying legislative instruments: Section 916C is modified by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (Financial Requirements for Issuers of Retail OTC Derivatives) Instrument 2022/705; the ASIC Corporations (Financial Requirements for Responsible Entities, IDPS Operators and Corporate Directors of Retail CCIVs) Instrument 202 3/6 47; and the ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 202 3/6 48.
For modifying legislative instruments or class orders before 1 January 2022, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
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