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 8B - Action against relevant providers  

Subdivision D - Fit and proper person test  

SECTION 921U   921U   FIT AND PROPER PERSON TEST FOR RELEVANT PROVIDERS  


The following matters are specified in relation to a relevant provider and a Financial Services and Credit Panel:

(a)  whether any of the following of the relevant provider has ever been suspended or cancelled:


(i) an Australian financial services licence;

(ii) an Australian credit licence, or a registration under the Transitional Act, within the meaning of the National Consumer Credit Protection Act 2009 ;

(b)  whether any of the following has ever been made against the relevant provider:


(i) a banning order, or a disqualification order under Subdivision B of Division 8 of this Part;

(ii) a banning order, or a disqualification order, under Part 2-4 of the National Consumer Credit Protection Act 2009 ;

(c)  whether the relevant provider has ever been disqualified under this Act, or any other law of the Commonwealth or of a State or Territory, from managing corporations;

(d)  whether the relevant provider has ever been banned from engaging in a credit activity (within the meaning of the National Consumer Credit Protection Act 2009 ) under a law of a State or Territory;

(e)  whether the relevant provider has ever been linked to a refusal or failure to give effect to a determination made by AFCA;

(f)  whether the relevant provider has ever been an insolvent under administration;

(g)  whether, in the last 10 years, the relevant provider has been convicted of an offence;

(h)  any relevant information given to ASIC, or an authority of a State or Territory, in relation to the relevant provider;

(i)  whether, in the last 10 years, a Financial Services and Credit Panel has made an instrument under subsection 921K(1) in relation to the relevant provider;

(j)  whether, in the last 10 years, a Financial Services and Credit Panel has given the relevant provider an infringement notice (unless the infringement notice was withdrawn);

(k)  any other matter prescribed by the regulations;

(l)  any other matter the panel considers relevant.


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