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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.7A - BEST INTERESTS OBLIGATIONS AND REMUNERATION    View history reference

Division 2 - Best interests obligations    View history reference

Subdivision F - Responsibilities of licensees under this Division    View history reference

SECTION 961P  

961P  RESPONSIBLE LICENSEE  

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For the purposes of this Part, the, or a, responsible licensee, in relation to a contravention of a provision of this Part, is:


(a) if the person who contravenes the provision is a representative of only one financial services licensee - that financial services licensee; or


(b) if the person who contravenes the provision is a representative of more than one financial services licensee:


(i) if, under the rules in section 917C, one of those licensees is responsible for the person's conduct - that licensee; or

(ii) if, under the rules in section 917C, 2 or more of those licensees are jointly and severally responsible for the person's conduct - each of those licensees.


 



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