Treasury Laws Amendment (Financial Services Compensation Scheme of Last Resort) Act 2023 (46 of 2023)

Schedule 1   Financial services compensation scheme of last resort

Part 2   Other amendments

Corporations Act 2001

16   After paragraph 920A(1)(j)

Insert:

(ja) all of the following apply:

(i) an individual who holds an Australian financial services licence, a partner in a partnership, a body corporate or a trustee of a trust is required to pay an amount in accordance with a relevant AFCA determination;

(ii) the CSLR operator has paid, under section 1063, an amount of compensation for the relevant AFCA determination;

(iii) at the time the payment is made by the CSLR operator, the person is the individual licensee, a partner in the partnership, an officer of the body corporate or the trustee of the trust; or