Corporations Act 2001
[ CCH Note: Ch 7 will be amended by No 8 of 2022, s 3, Sch 2, by inserting the note, (effective 1 July 2022). The note will read:
An authorised representative of a financial services licensee contravenes this section if the authorised representative contravenes section 961B , 961G , 961H or 961J .
Note: This subsection is a civil penalty provision (see section 1317E ).961Q(2)
Subsection (1) does not apply if:
(a) the licensee had provided the authorised representative with information or instructions about the requirements to be complied with in relation to the giving of personal advice; and
(b) the authorised representative ' s failure to comply with section 961B , 961G , 961H or 961J occurred because the representative was acting in reliance on that information or those instructions; and
(c) the representative ' s reliance on that information or those instructions was reasonable.