Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.6 - LICENSING OF PROVIDERS OF FINANCIAL SERVICES  

Division 5 - Authorised representatives  

SECTION 916C   AUTHORISED REPRESENTATIVE OF 2 OR MORE LICENSEES  

916C(1)  
One person can be the authorised representative of 2 or more financial services licensees, but only if:

(a)  each of those licensees has consented to the person also being the authorised representative of each of the other licensees; or

(b)  each of those licensees is a related body corporate of each of the other licensees; or

(c)  

the only financial services provided by the person as authorised representative of any financial services licensee are claims handling and settling services.

916C(2)  
A purported authorisation given in breach of this requirement is void.

916C(3)  
A person must not give a purported authorisation if that purported authorisation is in breach of this requirement.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).


 

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