(1) A financial services licensee must ensure that a compliance scheme covers:
(a) if the licensee is a relevant provider--the licensee; and
(b) in any case--any relevant provider authorised to provide personal advice to retail clients, on behalf of the licensee, in relation to relevant financial products.
Note: For when a compliance scheme covers a relevant provider, see section 921J.
(2) A compliance scheme must cover a relevant provider within 30 business days of the following:
(a) the day the person becomes a relevant provider;
(b) if the relevant provider was previously covered by only one compliance scheme that has ceased to cover the relevant provider--the day that scheme ceased to cover the relevant provider.