Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.7A - BEST INTERESTS OBLIGATIONS AND REMUNERATION  

Division 2 - Best interests obligations  

Subdivision F - 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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