Corporations Act 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
For the purposes of this Part, the, or a, responsible licensee , in relation to a contravention of a provision of this Part, is:
(a) if the person who contravenes the provision is a representative of only one financial services licensee - that financial services licensee; or
(b) if the person who contravenes the provision is a representative of more than one financial services licensee:
PART 7.7A
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BEST INTERESTS OBLIGATIONS AND REMUNERATION
Division 2
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Best interests obligations
Subdivision F
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Responsibilities of licensees under this Division
SECTION 961P
961P
RESPONSIBLE LICENSEE
For the purposes of this Part, the, or a, responsible licensee , in relation to a contravention of a provision of this Part, is:
(a) if the person who contravenes the provision is a representative of only one financial services licensee - that financial services licensee; or
(b) if the person who contravenes the provision is a representative of more than one financial services licensee:
(i) if, under the rules in section 917C , one of those licensees is responsible for the person ' s conduct - that licensee; or
(ii) if, under the rules in section 917C , 2 or more of those licensees are jointly and severally responsible for the person ' s conduct - each of those licensees.
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