Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]


Exception if lack of authority is disclosed to client

                   A financial services licensee is not responsible under section 917B or 917C for the conduct of their representative if:

                     (a)  the conduct is not within authority in relation to the licensee (or in relation to any of the licensees, if there were more than one); and

                     (b)  the representative disclosed that fact to the client before the client relied on the conduct; and

                     (c)  the clarity and the prominence of the disclosure was such as a person would reasonably require for the purpose of deciding whether to acquire the relevant financial service.

Note:          A person must not hold out that conduct, or proposed conduct, of the person is within authority in relation to a particular financial services licensee, unless that is the case. See section 911C.

AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback