Treasury Laws Amendment (2019 Measures No. 1) Act 2019 (49 of 2019)

Schedule 4   Miscellaneous amendments

Part 4   Amendments commencing 1 January 2019

Corporations Act 2001

114   Section 1546A (definition of existing provider

Repeal the definition, substitute:

existing provider means:

(a) a person who:

(i) is a relevant provider at any time between 1 January 2016 and 1 January 2019 (except a person who has ceased to be a relevant provider under subsection 1546B(4) or (5)); and

(ii) is not banned or disqualified under Division 8 of Part 7.6 on 1 January 2019; and

(iii) is not, on that day, subject to an enforceable undertaking under section 93AA of the ASIC Act to not provide financial product advice or a financial service; or

(b) a person who:

(i) at any time between 1 January 2016 and 1 January 2019, provides personal advice in a foreign country to retail clients in relation to relevant financial products; and

(ii) is not prohibited under the law of the foreign country from providing such advice on 1 January 2019.