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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.6 - LICENSING OF PROVIDERS OF FINANCIAL SERVICES    View history reference

Division 5 - Authorised representatives    View history reference

SECTION 916C  AUTHORISED REPRESENTATIVE OF 2 OR MORE LICENSEES  

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916C(1)  [Requirements]  


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.

916C(2)  [Authorisation void]  


A purported authorisation given in breach of this requirement is void.

916C(3)  [Purported authority]  


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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