ASIC Corporations (Amendment) Instrument 2017/464
I, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.
Grant Moodie
ASIC Corporations (Amendment) Instrument 2017/464
I, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.
Grant Moodie
Contents
1 Name of legislative instrument
ASIC Corporations (Recognised Accountants: Exempt Services) Instrument 2016/1151
This is the ASIC Corporations (Amendment) Instrument 2017/464.
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.
This instrument is made under subsection 926A(2) of the Corporations Act 2001.
Each instrument that is specified in the Schedule to this instrument is amended as set out in the applicable items in the Schedule.
1 Section 5
Omit “in relation to limited licensees”, substitute “in relation to financial services licensees (including limited licensees)”
2 Paragraph 5(a) (notional paragraph 7.1.29(4)(aa))
Omit, substitute:
(aa) if the person is a financial services licensee (including a limited licensee) or a representative of a licensee—the advice mentioned in paragraph (a):
(i) in relation to the licensee or the representative—is not covered by an authorisation in the licence held by the licensee; or
(ii) in relation to the representative—is not covered by the authorisation given by the licensee to the representative; and
3 Paragraph 5(b) (notional sub-subparagraph 7.1.29(4)(c)(ii)(A))
Omit, substitute:
(A) the person providing the advice is not licensed or authorised (as applicable) to provide financial product advice of the kind mentioned in paragraph (a); and
4 Paragraph 5(b) (notional sub-subparagraph 7.1.29(4)(c)(ii)(C))
Omit “other than a limited licensee”, substitute “with the appropriate authorisation”