CORPORATIONS ACT 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

PART 10.23A - TRANSITIONAL PROVISIONS RELATING TO THE CORPORATIONS AMENDMENT (PROFESSIONAL STANDARDS OF FINANCIAL ADVISERS) ACT 2017  

Division 2 - Application and transitional provisions  

SECTION 1546C   APPLICATION OF LIMITATION ON AUTHORISATION TO PROVIDE PERSONAL ADVICE AND OFFENCE  

Limitation on authorisation to provide personal advice

1546C(1)  
Section 921C , as inserted by the amending Act, applies in relation to:


(a) any Australian financial services licence granted on or after 1 January 2019 to a person who is not an existing provider; and


(b) any authorisation given on or after that day to a person who is not an existing provider.

Note: Section 921C provides that a person cannot be granted a licence, or be authorised, to provide certain financial advice unless the person meets certain conditions.

1546C(2)  
Section 921C , as inserted by the amending Act, applies, on and after 1 January 2024, in relation to a person who ceases to be a relevant provider under subsection 1546B(4) .

1546C(3)  
Section 921C , as inserted by the amending Act, applies, on and after 1 January 2021, in relation to a person who ceases to be a relevant provider under subsection 1546B(5) .

1546C(4)  
Section 921C , as inserted by the amending Act, does not apply in relation to a person who is an existing provider while the person continues to be a relevant provider. Restriction on use of terms " financial adviser " and " financial planner "

1546C(5)  
The following provisions, as inserted by the amending Act, apply on and after 1 January 2019:


(a) section 923C ;


(b) items 269AAA and 269AAB of the table in Schedule 3 .

Note: Those provisions relate to offences for using the terms " financial adviser " and " financial planner " .


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