Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.6 - LICENSING OF PROVIDERS OF FINANCIAL SERVICES  

Division 8B - Action against relevant providers  

Subdivision A - Action by Financial Services and Credit Panels  

SECTION 921M   COPY OF INSTRUMENT TO BE GIVEN TO AFFECTED PERSON ETC.  

921M(1)    


If, under subsection 921K(1) , a Financial Services and Credit Panel makes an instrument in relation to a person (the affected person ), the panel must:

(a)    

give a copy of the instrument to the affected person; and

(b)    

at the same time, give a copy of the instrument to:

(i) ASIC; and

(ii) if the affected person 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

(c)    

at the same time, give the affected person a written notice informing the affected person of their right to make an application under subsection 921N(3) in relation to the instrument.

Note: ASIC must enter details of certain instruments in the Register of Relevant Providers (see paragraph 922Q(2)(uc) ).


921M(2)    
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.


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