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 8A - Professional standards for relevant providers etc.  

Subdivision A - Education and training standards  

SECTION 921BA   RELEVANT PROVIDERS TO MEET EDUCATION AND TRAINING STANDARDS  

Qualifications

921BA(1)  
A relevant provider must meet the education and training standard in subsection 921B(2) . Exam

921BA(2)  
A relevant provider must meet the education and training standard in subsection 921B(3) . Work and training

921BA(3)  
A relevant provider must either:

(a)  meet the education and training standard in subsection 921B(4) ; or

(b)  be undertaking work and training in accordance with that subsection. Continuing professional development

921BA(4)  
A relevant provider must comply with subsection 921B(5) :

(a)  in the case of a relevant provider who is a financial services licensee - during the licensee ' s CPD year; or

(b)  in the case of a relevant provider who is authorised to provide personal advice to retail clients, on behalf of a financial services licensee, in relation to relevant financial products - during the licensee ' s CPD year.

Note: Section 922HB requires a notice to be given at the end of a financial services licensee ' s CPD year if a relevant provider has not complied with this subsection during that year.

Civil liability

921BA(5)  
A person contravenes this subsection if the person contravenes subsection (1) , (2) , (3) or (4) .

Note 1: This subsection is a restricted civil penalty provision (see sections 921Q and 1317E ).

Note 2: ASIC or a Financial Services and Credit Panel may take certain other action against a relevant provider who contravenes subsection (1) , (2) , (3) or (4) (see Division 8B ).

Note 3: Exemptions apply in relation to certain relevant providers (see section 921BC ).


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