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 8C - Registration of relevant providers  

Subdivision C - Registration and period of registration  

SECTION 921ZC   REGISTRATION OF RELEVANT PROVIDERS  

921ZC(1)  


Subject to subsections (2) and (3) , if an application is made in accordance with section 921ZA or 921ZB to register a relevant provider, the Registrar must register the relevant provider by recording in the records maintained under section 922A that the relevant provider is registered under this subsection. Refusal to register relevant provider

921ZC(2)  


The Registrar must refuse to register the relevant provider if:

(a)  a banning order is in force against the relevant provider that has the effect that the relevant provider is prohibited from providing personal advice to retail clients in relation to relevant financial products; or

(b)  a disqualification order under Division 8 is in force against the relevant provider that has the effect of disqualifying the relevant provider from providing personal advice to retail clients in relation to relevant financial products.

921ZC(3)  


If a registration prohibition order is in force against the relevant provider, the Registrar must refuse to register the relevant provider until after the prohibition end day specified in the order. Notice of registration

921ZC(4)  


If:

(a)  the application is made in accordance with section 921ZA ; and

(b)  the Registrar registers the relevant provider under subsection (1) ;

the Registrar must, as soon as practicable after recording in the records maintained under section 922A that the relevant provider is registered under subsection (1) of this section, give a written notice of the registration to the relevant provider.

921ZC(5)  


If:

(a)  the application is made in accordance with section 921ZB ; and

(b)  the Registrar registers the relevant provider under subsection (1) of this section;

the Registrar must, as soon as practicable after recording in the records maintained under section 922A that the relevant provider is registered under subsection (1) of this section, give a written notice of the registration to:

(c)  the relevant provider; and

(d)  the applicant.

Notice of refusal to register relevant provider

921ZC(6)  


If the Registrar refuses to register the relevant provider, the Registrar must, within 5 business days after the refusal, give a written notice of the refusal to:

(a)  the relevant provider; and

(b)  if the application is made in accordance with section 921ZB - the applicant.

921ZC(7)  
The notice must specify which of the following provisions apply in relation to the relevant provider:

(a)  paragraph (2)(a) or (b) ;

(b)  subsection (3) .


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