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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 810

Licensee to keep register of holders of proper authorities

(1) A licensee must establish a register of the persons who hold proper authorities from the licensee and must keep it in accordance with this section. (2) The register must be in writing or in such other form as ASIC approves. (3) The register must contain, in relation to each person (if any) who holds a proper authority from the licensee:

(a)
a copy of the proper authority; and

(b)
the person's name; and

(c)
the person's current residential address; and

(d)
unless the person's current business address is the same as the licensee's—the person's current business address; and

(e)
any other prescribed information.

(4) A copy of a proper authority of a person from the licensee that subsection (3) provides for the register to contain must be included in the register within 2 business days after the person begins to hold that proper authority. (5) Information that subsection (3) provides for the register to contain in relation to a person must be entered in the register within 2 business days after:

(a)
the person begins to hold a proper authority from the licensee; or

(b)
the licensee receives the information;

whichever happens later.

(6) Within 2 business days after a person ceases to hold a proper authority from the licensee, the licensee must:

(a)
in any case:

(i)
include, in a part of the register separate from the part in which copies of proper authorities are included under subsection (4); and
(ii)
remove from the last-mentioned part;
the copy of the proper authority that was included in the last-mentioned part; and

(b)
unless, at the end of those 2 business days, the person again holds a proper authority from the licensee:

(i)
enter, in a part of the register separate from the part in which information is entered under subsection (5); and
(ii)
remove from the last-mentioned part;
the information that has been entered in the last-mentioned part in relation to the person.

(7) Information that has been entered under paragraph (6)(b) in a separate part of the register is taken for the purposes of subsections (3) and (5) not to be contained or entered in the register. (8) If a licensee whom subsection (1) requires to establish a register already keeps one under this section, the licensee need not establish a new register but must keep the existing one in accordance with this section.


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