Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.6 - LICENSING OF PROVIDERS OF FINANCIAL SERVICES  

Division 9 - Registers relating to financial services  

Subdivision C - Register of Relevant Providers  

SECTION 922Q   REGISTER OF RELEVANT PROVIDERS  

Register to include details of relevant providers

922Q(1)    
ASIC must enter details on a Register of Relevant Providers in respect of each person who is or was a relevant provider.

Contents of Register

922Q(2)    
The details that must be entered on the Register include the following:

(a)    the relevant provider ' s name;

(b)    the relevant provider ' s principal place of business;

(c)    the name of each financial services licensee on whose behalf the relevant provider is or was authorised to provide personal advice to retail clients in relation to relevant financial products;

(d)    if applicable, each person who has control of the licensee;

(e)    the relevant provider ' s date and place of birth;

(f)    the licence number given under subsection 913C(1) to the relevant provider and each licensee referred to in paragraph (c) ;

(g)    if applicable, the number given under section 922R ;

(h)    if the relevant provider is a relevant provider as a result of section 916B :

(i) the name of the authorised representative who authorised the relevant provider under that section; and

(ii) the number allocated to the authorised representative by ASIC;

(i)    the recent advising history of the relevant provider;

(j)    if the relevant provider is a provisional relevant provider:

(i) the fact that the relevant provider is a provisional relevant provider; and

(ii) the day the relevant provider began undertaking work and training in accordance with subsection 921B(4) ; and

(iii) a statement that the relevant provider is required to be supervised in accordance with Subdivision C of Division 8A ;

(k)    except in relation to provisional relevant providers - the year in which the relevant provider first provided personal advice to retail clients in relation to relevant financial products in accordance with the law (including the law of a State or Territory);

(l)    whether the person is currently, or has ceased to be, a relevant provider;

(m)    

if a financial services licensee has lodged a notice under section 922HB in relation to the relevant provider and a CPD provision - that the relevant provider did not comply with the CPD provision during the licensee ' s CPD year;

(n)    if the relevant provider has been disqualified from managing corporations - information contained on the register established under section 1274AA ;

(o)    if the relevant provider has been banned or disqualified under section 80 or 86 of the National Consumer Credit Protection Act 2009 - information about that banning or disqualification;

(p)    if the relevant provider has been banned, disqualified or suspended under Division 8 of Part 7.6 , or under section 130F of the Superannuation Industry (Supervision) Act 1993 - information about that banning, disqualification or suspension;

(q)    

information about any undertaking that the relevant provider has given under:

(i) section 93AA or 171E of the ASIC Act; or

(ii) section 322 of the National Consumer Credit Protection Act 2009 ;

(r) (Repealed)

(s)    if applicable, information about both of the following:

(i) the relevant financial products in relation to which the relevant provider is authorised to provide personal advice to retail clients;

(ii) whether the relevant provider is authorised to provide class of product advice in relation to some or all of those products;

(t)    if applicable, the ABN of any of the following:

(i) the relevant provider;

(ii) each licensee referred to in paragraph (c) ;

(iii) if applicable, the authorised representative referred to in paragraph (h) ;

(u)    

information about the educational qualifications of, and any training courses completed by, the relevant provider (but not courses completed in accordance with a CPD provision), to the extent that the qualifications and training courses are relevant to the provision of financial services;

(ua)    

whether a registration under section 921ZC of the relevant provider is in force;

(ub)    

whether the relevant provider provides, or is to provide, a tax (financial) advice service;

(uc)    

if an instrument of a kind prescribed by regulations made for the purposes of subsection (3) is given to, or made in relation to, the relevant provider - details of the instrument;

(ud)    

if a Financial Services and Credit Panel gives the relevant provider an infringement notice and the relevant provider pays the amount stated in the notice before the end of the payment period for the notice - all of the following:

(i) details of the notice;

(ii) a statement that the relevant provider has complied with the notice;

(iii) a statement that compliance with the notice is not an admission of guilt or liability;

(iv) a statement that the relevant provider is not regarded as having contravened the provision specified in the notice;

(ue)    any declaration under section 1317E that the relevant provider has contravened a restricted civil penalty provision;

(v) (Repealed)

(w)    any other information that ASIC believes should be included in the Register that relates to the provision of financial services by the relevant provider.

Note 1: Not all of the Register ' s contents are publicly available. However, section 1274A provides that ASIC may permit a person to search certain registers kept by ASIC for prescribed information.

Note 2: Information in paragraph (2)(s) may not be known in relation to a provisional relevant provider (see subsection 922F(4) ).

922Q(3)    

The regulations may prescribe instruments of one or more of the following kinds:

(a)    an instrument made by a Financial Services and Credit Panel under subsection 921K(1) ;

(b)    a warning or reprimand given by ASIC under subsection 921S(1) ;

(c)    a warning or reprimand given by a Financial Services and Credit Panel under subsection 921T(1) .