Federal Register of Legislation - Australian Government

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Other as made
This instrument exempts Authorised Representatives from the requirement to notify ASIC of the sub-authorisation of employees who provide a claims handling or settling service in relation to general or consumer credit insurance products.
Administered by: Treasury
Registered 09 Jun 2022
To be repealed 08 Jun 2027
Repealed by Self Repealing
Table of contents.

Commonwealth Coat of Arms and ASIC logo

I, Rhys Bollen, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

 

Date    8 June 2022

 

Rhys Bollen

 



Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Notification of Authorised Representatives) Instrument 2022/301.

2        Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislation.

Note:    The register may be accessed at www.legislation.gov.au.

3        Authority

This instrument is made under paragraph 926A(2)(c) of the Corporations Act 2001.

4        Definitions

In this instrument:

Act means the Corporations Act 2001.


 Part 2—Declaration

5        Circumstances where notification to ASIC about authorised representatives is not required

Part 7.6 of the Act (other than Divisions 4 and 8) applies in relation to an authorised representative of a financial services licensee as if section 916F were modified or varied as follows:

(a)     in subparagraph 916F(1AA)(d)(iii), omit “and”;

(b)     after subparagraph 916F(1AA)(d)(iii), insert:

“(iv) a claims handling and settling service that relates to one or more of the following financial products:

(A)    a general insurance product;

(B)    a consumer credit insurance product; and”.

 


Part 3—Repeal

6        Repeal

This instrument is repealed on 8 June 2027.