Commonwealth Consolidated Acts

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Obligation for relevant providers to provide information to financial services licensees

Information about relevant provider

             (1)  A person must provide information to a financial services licensee in accordance with this section if:

                     (a)  the person is a relevant provider; and

                     (b)  the person has been authorised to provide personal advice to retail clients, on behalf of the licensee, in relation to relevant financial products; and

                     (c)  the licensee has asked the person to provide the information so that the licensee can:

                              (i)  comply with its obligation to lodge a notice relating to the person in accordance with section 922D; or

                            (iii)  determine whether the licensee has an obligation to lodge a notice under section 922HB.

Note:          A person may commit an offence or contravene a civil penalty provision if the person gives false or misleading information (see section 1308 of this Act and section 137.1 of the Criminal Code ).

When information must be given

             (2)  The information must be given to the licensee within a period that allows the licensee to comply with the obligation referred to in paragraph (1)(c).

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