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: Division 5 is modified by the ASIC Corporations (Financial Requirements for Corporate Directors of Retail Corporate Collective Investment Vehicles) Instrument 2022/449; the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716; and the ASIC Corporations (Financial Requirements for Issuers of Retail OTC Derivatives) Instrument 2022/705.
CCH Note: Section 916C is modified by the ASIC Corporations (Financial Requirements for Corporate Directors of Retail Corporate Collective Investment Vehicles) Instrument 2022/449; the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716; and the ASIC Corporations (Financial Requirements for Issuers of Retail OTC Derivatives) Instrument 2022/705.
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.
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) ).
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