Corporations Act 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
A financial services licensee must ensure that a compliance scheme covers:
(a) if the licensee is a relevant provider - the licensee; and
(b) in any case - any relevant provider authorised to provide personal advice to retail clients, on behalf of the licensee, in relation to relevant financial products.
A compliance scheme must cover a relevant provider within 30 business days of the following:
(a) the day the person becomes a relevant provider;
(b) if the relevant provider was previously covered by only one compliance scheme that has ceased to cover the relevant provider - the day that scheme ceased to cover the relevant provider.
PART 7.6
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LICENSING OF PROVIDERS OF FINANCIAL SERVICES
Division 8B
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Compliance schemes
Subdivision A
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Compliance schemes to cover relevant providers
SECTION 921H
FINANCIAL SERVICES LICENSEES TO ENSURE COMPLIANCE SCHEME COVERS RELEVANT PROVIDERS
921H(1)
A financial services licensee must ensure that a compliance scheme covers:
(a) if the licensee is a relevant provider - the licensee; and
(b) in any case - any relevant provider authorised to provide personal advice to retail clients, on behalf of the licensee, in relation to relevant financial products.
Note: For when a compliance scheme covers a relevant provider, see section 921J .
921H(2)A compliance scheme must cover a relevant provider within 30 business days of the following:
(a) the day the person becomes a relevant provider;
(b) if the relevant provider was previously covered by only one compliance scheme that has ceased to cover the relevant provider - the day that scheme ceased to cover the relevant provider.
[ CCH Note: There is no section 921I.]
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