Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.6 - LICENSING OF PROVIDERS OF FINANCIAL SERVICES  

Division 5 - Authorised representatives  

SECTION 916C   AUTHORISED REPRESENTATIVE OF 2 OR MORE LICENSEES  

916C(1)  
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.

916C(2)  
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) ).


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.