Corporations Act 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
ASIC may exempt a person, or a class of persons, from section 962K (the opt-in requirement ), if ASIC is satisfied that the person is, or persons of that class are, bound by a code of conduct approved by ASIC for the purposes of this section. 962CA(2)
A code of conduct is approved by ASIC for the purposes of this section if:
(a) the code of conduct is approved by ASIC under section 1101A ; and
(b) ASIC is satisfied that the code of conduct obviates the need for persons bound by the code to be bound by the opt-in requirement; and
(c) ASIC is satisfied of any other matters prescribed by the regulations. 962CA(3)
The exemption must be in writing and ASIC must publish notice of it in the Gazette .
PART 7.7A
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BEST INTERESTS OBLIGATIONS AND REMUNERATION
Division 3
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Charging ongoing fees to clients
Subdivision A
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Preliminary
SECTION 962CA
EXEMPTION FROM APPLICATION OF OPT-IN REQUIREMENT
962CA(1)
ASIC may exempt a person, or a class of persons, from section 962K (the opt-in requirement ), if ASIC is satisfied that the person is, or persons of that class are, bound by a code of conduct approved by ASIC for the purposes of this section. 962CA(2)
A code of conduct is approved by ASIC for the purposes of this section if:
(a) the code of conduct is approved by ASIC under section 1101A ; and
(b) ASIC is satisfied that the code of conduct obviates the need for persons bound by the code to be bound by the opt-in requirement; and
(c) ASIC is satisfied of any other matters prescribed by the regulations. 962CA(3)
The exemption must be in writing and ASIC must publish notice of it in the Gazette .
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