Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 921D

             (1)  A relevant provider must comply with subsection 921B(5):

                     (a)  if the relevant provider is a financial services licensee--during the licensee's CPD year; or

                     (b)  if the relevant provider is authorised to provide personal advice to retail clients, on behalf of a financial services licensee, in relation to relevant financial products--during the licensee's CPD year.

Note 1:       Subsection 921B(5) requires a relevant provider to meet the continuing professional development standard.

Note 2:       Section 922HB requires a notice to be given at the end of a financial services licensee's CPD year if a relevant provider has not complied with this section during that year.

Exemptions

             (2)  Subsection (1) does not apply in relation to a person if:

                     (a)  the person is a provisional relevant provider; or

                     (b)  the only relevant financial product in relation to which the person provides personal advice to retail clients is a time-sharing scheme.