Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.7 - FINANCIAL SERVICES DISCLOSURE  

Division 2 - Person provided with financial service as retail client to be given a Financial Services Guide  

Subdivision A - Requirement for a Financial Services Guide to be given  

SECTION 941B   OBLIGATION ON AUTHORISED REPRESENTATIVE TO GIVE A FINANCIAL SERVICES GUIDE IF FINANCIAL SERVICE PROVIDED TO PERSON AS A RETAIL CLIENT  

941B(1)  
An authorised representative (the providing entity ) of a financial services licensee (the authorising licensee ), or of 2 or more financial services licensees (the authorising licensees ), must give a person a Financial Services Guide in accordance with this Division if the providing entity, as a representative of the authorising licensee, or one or more of the authorising licensees, provides a financial service to the person (the client ) as a retail client.

Note: If the providing entity is the authorised representative of 2 or more financial services licensees, each of those licensees is, for the purposes of this Division, an authorising licensee in relation to the financial service provided to the client, even though the providing entity may not have been acting as representative of each of those licensees in providing the service to the client.

941B(2)  
A Financial Services Guide must not be given to the person by the providing entity unless the authorising licensee, or each of the authorising licensees, has authorised its distribution by the providing entity.

941B(3)  
This section has effect subject to section 941C .

941B(4)  


A person contravenes this subsection if the person contravenes subsection (1) or (2).

Note: This subsection is a civil penalty provision (see section 1317E ).


 

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