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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 4 - Conflicted remuneration    View history reference

Subdivision C - Ban on conflicted remuneration  

SECTION 963G  AUTHORISED REPRESENTATIVE MUST NOT ACCEPT CONFLICTED REMUNERATION  

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963G(1)  

An authorised representative of a financial services licensee must not accept conflicted remuneration.

Note: This subsection is a civil penalty provision (see section 1317E).

963G(2)  

Subsection (1) does not apply if:


(a) the licensee had provided the authorised representative with information about the nature of the benefit to be accepted by the authorised representative; and


(b) at the time the authorised representative accepted the benefit, the representative was not aware that the benefit was conflicted remuneration because the representative was acting in reliance on that information; and


(c) the representative's reliance on that information was reasonable.


 



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