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 - modifying legislative instruments: The application of Pt 7.6 is affected by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (Custody Standards for Providers of Custodial and Depository Services) Instrument 2024/17 (other than Divs 4 and 8); the ASIC Corporations (Investor Directed Portfolio Services) Instrument 202 3/6 69 (as amended by ASIC Corporations (Amendment) Instrument 2024/554) (other than Divs 4 and 8); the ASIC Corporations (Record-Keeping Requirements for Australian Financial Services Licensees when Giving Personal Advice) Instrument 2024/508 (other than Divs 4 and 8); the ASIC Corporations (31-day Notice Term Deposits) Instrument 2025/172 (other than Divs 4 and 8); and the ASIC Corporations and Credit (Breach Reporting - Reportable Situations) Instrument 202 4/6 20 (other than Divs 4 and 8) (as amended by ASIC Corporations and Credit (Amendment) Instrument 2025/289).
The application of Pt 7.6 is also affected by the Class Order 1 [frac412] 62: Relief for 31 Day Notice Term Deposits (other than Divs 4 and 8); and the ASIC Corporations, Credit and Superannuation (Internal Dispute Resolution) Instrument 2020/98 (other than Divs 4 and 8).
For other legislative instruments or class orders before 1 January 2022 that affect the application of Pt 7.6, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
CCH note - modifying legislative instruments: The application of Division 8B is affected by the following legislative instruments that commenced on or after 1 January 2022: the ASIC Corporations (Financial Requirements for Issuers of Retail OTC Derivatives) Instrument 2022/705; the ASIC Corporations (Financial Requirements for Responsible Entities, IDPS Operators and Corporate Directors of Retail CCIVs) Instrument 202 3/6 47; and the ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 202 3/6 48.
For legislative instruments or class orders before 1 January 2022 that affect the application of Division 8B, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
CCH note - modifying legislative instruments: The application of Subdivision A is affected by the following legislative instruments that commenced on or after 1 January 2022: the ASIC Corporations (Financial Requirements for Issuers of Retail OTC Derivatives) Instrument 2022/705; the ASIC Corporations (Financial Requirements for Responsible Entities, IDPS Operators and Corporate Directors of Retail CCIVs) Instrument 202 3/6 47; and the ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 202 3/6 48.
For legislative instruments or class orders before 1 January 2022 that affect the application of Subdivision A, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
CCH note: This provision is modified by legislative instruments. See the CCH note at the end of the provision for details.
For the purposes of subsection 921K(1) , the following kinds of instrument are specified: (a) a written direction that a relevant provider:
(i) undertake specified training; or
(ii) receive specified counselling; or
(iii) receive specified supervision; or
(b) a written order (a registration suspension order ), in relation to a relevant provider, that suspends all of the relevant provider ' s registrations under section 921ZC for a period (the suspension period ) specified in the order; (c) a written order (a registration prohibition order ), in relation to a relevant provider, that:
(iv) report specified matters to ASIC;
(i) cancels all of the relevant provider ' s registrations under section 921ZC at a time (the cancellation time ) specified in the order; and
(ii) provides that the person who is or was the relevant provider is not to be registered under section 921ZC until after a day (the prohibition end day ) specified in the order.
Note: If a registration prohibition order is in force against a person who is or was a relevant provider:
[ CCH Note: S 921L(1) will be amended by No 115 of 2021, s 3, Sch 1[142], by substituting " the Registrar " for " ASIC " in para (b) of the note (effective 1 July 2026 or a day or days to be fixed by Proclamation).]
Effect of paragraph (1)(a) direction
921L(2)
A relevant provider must comply with a direction in relation to the relevant provider that is in force under paragraph (1)(a) .
Note: This subsection is a civil penalty provision (see section 1317E ).
Effect of registration suspension order
921L(3)
For the purposes of this Part, if a registration suspension order is in force against a relevant provider, all of the relevant provider ' s registrations under section 921ZC are taken not to be in force during the suspension period specified in the order.
Suspension period and cancellation time
921L(4)
The suspension period specified in a registration suspension order that is made in relation to a relevant provider must begin at or after the time a copy of the order is given to the relevant provider.
921L(5)
The cancellation time specified in a registration prohibition order that is made in relation to a relevant provider must be a time that is at or after a copy of the order is given to the relevant provider.
When instruments come into force
921L(6)
An instrument of a kind specified in subsection (1) that is made in relation to a relevant provider comes into force when a copy of it is given to the relevant provider in accordance with subsection 921M(1) .
CCH note - modifying legislative instruments: Section 921L is modified by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (Financial Requirements for Issuers of Retail OTC Derivatives) Instrument 2022/705; the ASIC Corporations (Financial Requirements for Responsible Entities, IDPS Operators and Corporate Directors of Retail CCIVs) Instrument 202 3/6 47; and the ASIC Corporations (Financial Requirements for Custodial or Depository Service Providers) Instrument 202 3/6 48.
For modifying legislative instruments or class orders before 1 January 2022, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
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