Commonwealth Consolidated Acts

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How representatives are authorised

             (1)  A financial services licensee may give a person (the authorised representative ) a written notice authorising the person, for the purposes of this Chapter, to provide a specified financial service or financial services on behalf of the licensee.

Note:          There are limitations on a financial services licensee authorising an individual to provide certain personal advice if the individual does not meet certain requirements (see section 921C).

             (2)  The financial services specified may be some or all of the financial services covered by the licensee's licence.

             (3)  An authorisation under subsection (1) is void to the extent that it purports to authorise a person to provide a financial service:

                     (a)  that is not covered by the licensee's licence; or

                     (b)  contrary to a banning order or disqualification order under Division 8; or

                     (c)  in contravention of subsection 921C(2).

          (3A)  A person must not give a purported authorisation if that purported authorisation is void to any extent under subsection (3).

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

             (4)  An authorisation may be revoked at any time by the licensee giving written notice to the authorised representative.

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