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 7.7A - BEST INTERESTS OBLIGATIONS AND REMUNERATION  

Division 2 - Best interests obligations  

Subdivision G - Responsibilities of authorised representatives under this Division  

SECTION 961Q   CIVIL PENALTY PROVISION - SECTIONS 961B, 961G, 961H AND 961J  

961Q(1)    
An authorised representative of a financial services licensee contravenes this section if the authorised representative contravenes section 961B , 961G , 961H or 961J .

Note: This subsection is a civil penalty provision (see section 1317E ).

961Q(2)    
Subsection (1) does not apply if:

(a) the licensee had provided the authorised representative with information or instructions about the requirements to be complied with in relation to the giving of personal advice; and

(b) the authorised representative ' s failure to comply with section 961B , 961G , 961H or 961J occurred because the representative was acting in reliance on that information or those instructions; and

(c) the representative ' s reliance on that information or those instructions was reasonable.