Financial Sector Reform (Hayne Royal Commission Response - Better Advice) Act 2021 (115 of 2021)

Schedule 1   Initial amendments

Part 1   Main amendments

Corporations Act 2001

45   Section 921E

Repeal the section, substitute:

921E Code of Ethics

(1) The Minister may, by legislative instrument, make a Code of Ethics.

(2) Without limiting subsection 33(3A) of the Acts Interpretation Act 1901, the Code of Ethics may make different provision in relation to different classes of relevant provider.

(3) A relevant provider must comply with the Code of Ethics.

Note 1: Subsection (3) is a restricted civil penalty provision (see sections 921Q and 1317E).

Note 2: ASIC or a Financial Services and Credit Panel may take certain other action against a relevant provider who contravenes subsection (3) (see Division 8B).