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CORPORATIONS ACT 2001 - SECT 921M

Copy of instrument to be given to affected person etc.

             (1)  If, under subsection 921K(1), a Financial Services and Credit Panel makes an instrument in relation to a person (the affected person ), the panel must:

                     (a)  give a copy of the instrument to the affected person; and

                     (b)  at the same time, give a copy of the instrument to:

                              (i)  ASIC; and

                             (ii)  if the affected person is authorised to provide personal advice to retail clients, on behalf of a financial services licensee, in relation to relevant financial products--the licensee; and

                     (c)  at the same time, give the affected person a written notice informing the affected person of their right to make an application under subsection 921N(3) in relation to the instrument.

Note:          ASIC must enter details of certain instruments in the Register of Relevant Providers (see paragraph 922Q(2)(uc)).

             (2)  A copy of an instrument given to a person under paragraph (1)(a) or (b) must be accompanied by a statement of reasons for the decision to make the instrument.

             (3)  A failure to comply with subsection (1) or (2) in relation to an instrument does not affect the validity of the instrument.



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