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 F - Responsibilities of licensees under this Division  

SECTION 961P  

961P   MEANING OF RESPONSIBLE LICENSEE  

The, or a, responsible licensee , in relation to a contravention of a provision of this Part, is:

(a)    if the person who contravenes the provision is a representative of only one financial services licensee - that financial services licensee; or

(b)    if the person who contravenes the provision is a representative of more than one financial services licensee:

(i) if, under the rules in section 917C , one of those licensees is responsible for the person ' s conduct - that licensee; or

(ii) if, under the rules in section 917C , 2 or more of those licensees are jointly and severally responsible for the person ' s conduct - each of those licensees.