Commonwealth Consolidated Regulations

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

CORPORATIONS REGULATIONS 2001 - REG 10.2.50

Content of Financial Services Guide for an authorised representative that is a regulated principal or a representative of a regulated principal

             (1)  This regulation applies if a person:

                     (a)  is a regulated principal, or a representative of a regulated principal within the meaning of subsection 1436(1) of the Act; and

                     (b)  is also in the transition period in the capacity of:

                              (i)  a regulated principal; or

                             (ii)  a representative of a regulated principal; and

                     (c)  is also a financial services licensee or an authorised representative of a financial services licensee.

             (2)  Paragraphs 942B(2)(c) and 942C(2)(d) of the Act are taken to require the person:

                     (a)  to provide a statement, in addition to a Financial Services Guide, to the effect that the person is able to provide financial services as:

                              (i)  a regulated principal; or

                             (ii)  a representative of a regulated principal; and

                     (b)  to include in the statement:

                              (i)  a brief description of the kinds of financial services provided in that capacity; and

                             (ii)  the name of each regulated principal (if any) on whose behalf the financial services are provided.

             (3)  For subregulation (2):

                     (a)  section 940C of the Act is taken to apply in relation to the statement; and

                     (b)  the following matters are also taken to apply in relation to the person:

                              (i)  any regulations or other instruments in force for section 940C;

                             (ii)  any interpretation provisions that apply for section 940C;

                            (iii)  any provisions relating to liability (civil or criminal) that apply for section 940C (whether or not they also apply or applied for other purposes);

                            (iv)  any provisions that limit, or that otherwise affect, the operation of section 940C (whether or not they also limit or limited, or affect or affected, the operation of other provisions); and

                     (c)  for Part 7.7 of the Act, the statement:

                              (i)  is taken not to be a part of the Financial Services Guide; and

                             (ii)  is taken not to be a statement that the person is required to include in a Financial Services Guide.

             (4)  The person must not fail to give the statement in accordance with this regulation.

Penalty:  50 penalty units.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback