Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.6 - LICENSING OF PROVIDERS OF FINANCIAL SERVICES  

REGULATION 7.6.03A   AUSTRALIAN FINANCIAL SERVICES LICENCE - REQUIREMENTS FOR A FOREIGN ENTITY TO APPOINT LOCAL AGENT  

7.6.03A(1)   [ Foreign entity must meet requirements]  

For paragraph 913B(1)(d) of the Act, a foreign entity that:

(a) is not a foreign company; and

(b) applies for an Australian financial services licence;

must meet the requirements in subregulations (2) and (3).

7.6.03A(2)   [ Appointment of agent]  

The foreign entity must:

(a) have appointed, as an agent, a person who is:

(i) a natural person or a company; and

(ii) resident in this jurisdiction; and

(iii) authorised to accept, on the foreign entity's behalf, service of process and notices; and

(b) lodge, with the application, a memorandum of appointment or a power of attorney that is duly executed by or on behalf of the foreign entity and states the name and address of the agent.

7.6.03A(3)   [ Lodgment of authorisation document]  

If the memorandum of appointment, or power of attorney, lodged under paragraph (2)(b) was executed on behalf of the foreign entity, the foreign entity must also lodge a copy declared in writing to be a true copy of the document authorising the execution.