Corporations Act 2001
A relevant provider must comply with subsection 921B(5) :
(a) if the relevant provider is a financial services licensee - during the licensee ' s CPD year; or
(b) if the relevant provider 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 1: Subsection 921B(5) requires a relevant provider to meet the continuing professional development standard.
Note 2: 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 section during that year.Exemptions 921D(2)
Subsection (1) does not apply in relation to a person if:
(a) the person is a provisional relevant provider; or
(b) the only relevant financial product in relation to which the person provides personal advice to retail clients is a time-sharing scheme.