Corporations Amendment Regulation 2013 (No. 3) (101 of 2013)

Schedule 1   Amendments commencing on 1 July 2013

Corporations Regulations 2001

3   At the end of subregulation 7.6.04(1)

Add:

; (k)if the financial services licensee is a limited licensee - a condition that the licensee must, within 3 years from the date on which the licence is granted and if requested in writing by ASIC, demonstrate to the satisfaction of ASIC that:

(i)if the licensee is an individual - the licensee has:

(A)knowledge of the licensee's obligations under the Act and these Regulations; and

(B)the competence to provide the financial services covered by the licence; or

(ii)if the licensee is a partnership or corporation - each recognised accountant that supervises and has responsibility for the provision of financial services covered by the licence has:

(A)knowledge of the licensee's obligations under the Act and these Regulations; and

(B)the competence to provide the financial services covered by the licence.