Corporations Amendment Regulations 2007 (No. 12) (324 of 2007)

Schedule 1   Amendments commencing on day after registration

[3]   After subregulation 7.7.05B (2)

insert

(2A) For paragraph 942C (4) (b) of the Act, the Financial Services Guide in relation to a financial service does not have to include a statement setting out the name and contact details of a person if:

(a) the person is:

(i) a franchisee of the holder of an Australian financial services licence (the franchisor ) and a corporate authorised representative of the franchisor; or

(ii) an employee of a franchisee of the holder of an Australian financial services licence; and

(b) the franchisor is an authorised deposit-taking institution (within the meaning of the Banking Act 1959) and regulated by APRA; and

(c) the franchise agreement:

(i) subjects the person to the policies of the franchisor; and

(ii) requires compliance by the person with the policies of the franchisor that were made to give effect to the franchisor's obligations under the Australian financial services licence; and

(d) the Financial Services Guide produced by the franchisor explains that the franchisor takes responsibility for the services provided by the person.