Commonwealth Consolidated Acts

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Prohibition on holding out

                   A person must not hold out:

                     (a)  that the person has an Australian financial services licence; or

                     (b)  that a financial service provided by the person or by someone else is exempt from the requirement to hold an Australian financial services licence; or

                     (c)  that, in providing a financial service, the person acts on behalf of another person; or

                     (d)  that conduct, or proposed conduct, of the person is within authority (within the meaning of Division 6) in relation to a particular financial services licensee;

if that is not the case.

Note:          Failure to comply with this section is an offence (see subsection 1311(1)).

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