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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 9 - Registers relating to financial services    View history reference

Subdivision B - Notice requirements relating to the Register of Relevant Providers    View history reference

SECTION 922HC  REQUIREMENT TO RETAIN INFORMATION  

 View history reference

922HC(1)  

A financial services licensee must retain evidence of the continuing professional development undertaken during the licensee ' s CPD year by:


(a) if the licensee is a relevant provider - the licensee; and


(b) if a relevant provider is authorised to provide personal advice to retail clients, on behalf of the licensee, in relation to relevant financial products - the relevant provider.

922HC(2)  

The evidence must be retained for 12 months after the end of the CPD year.

Offence

922HC(3)  

A person commits an offence if:


(a) the person is required to retain evidence under this section; and


(b) the person fails to retain the evidence in accordance with this section.

Penalty: 50 penalty units.


 



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