Corporations Act 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
A monitoring body for a compliance scheme must notify ASIC if the monitoring body significantly reduces the resources or expertise that it uses to monitor or enforce compliance with the Code of Ethics under the scheme.
PART 7.6
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LICENSING OF PROVIDERS OF FINANCIAL SERVICES
Division 8B
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Compliance schemes
Subdivision D
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Other provisions
SECTION 921T
921T
OBLIGATION TO NOTIFY ASIC OF CHANGES TO MONITORING BODY
A monitoring body for a compliance scheme must notify ASIC if the monitoring body significantly reduces the resources or expertise that it uses to monitor or enforce compliance with the Code of Ethics under the scheme.
Note: The approval for a compliance scheme may be revoked if the monitoring body for the scheme does not comply with this section (see subsection 921K(7) ).
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