Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.7A - BEST INTERESTS OBLIGATIONS AND REMUNERATION  

Division 3 - Charging ongoing fees to clients  

Subdivision A - 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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