Treasury Laws Amendment (Genetic Testing Protections in Life Insurance and Other Measures) Act 2026 (35 of 2026)

Schedule 2   Licensing exemptions for foreign financial services providers

Corporations Act 2001

9   After subsection 914B(2)

Insert:

(2A) However, subsection (2) does not apply if:

(a) the applicant is a foreign company or is a partnership formed outside this jurisdiction; and

(b) the licence, if the application is granted, would be restricted to the provision of financial services to wholesale clients; and

(c) the applicant holds any authorisations, registrations or licences (however described) that:

(i) are necessary to legally provide the same or substantially the same financial services in a place outside this jurisdiction; and

(ii) are issued (however described) by a regulator determined under subsection 911W(1).