Corporations Act 2001
[ CCH Note: Ch 7 will be amended by No 8 of 2022, s 3, Sch 2, by inserting the note, (effective 1 July 2022). The note will read:
If, under subsection 921K(1) , a Financial Services and Credit Panel makes an instrument in relation to a relevant provider, the panel must: (a) give a copy of the instrument to the relevant provider; and (b) at the same time, give a copy of the instrument to:
(i) ASIC; and
(c) at the same time, give the relevant provider a written notice informing the relevant provider of their right to make an application under subsection 921N(3) in relation to the instrument.
(ii) if the relevant provider is authorised to provide personal advice to retail clients, on behalf of a financial services licensee, in relation to relevant financial products - the licensee; and
Note: ASIC must enter details of certain instruments in the Register of Relevant Providers (see paragraph 922Q(2)(uc) ).
[ CCH Note: S 921M(1) will be amended by No 115 of 2021, s 3, Sch 1 and [ 144], by inserting para (b)(ia) and repealing the note (effective at the same time as item 1150 of Schedule 1 to the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 commences). Para (b)(ia) will read:
(ia) the Registrar; and]
A copy of an instrument given to a person under paragraph (1)(a) or (b) must be accompanied by a statement of reasons for the decision to make the instrument. 921M(3)
A failure to comply with subsection (1) or (2) in relation to an instrument does not affect the validity of the instrument.