Financial Sector Reform Amendment (Hayne Royal Commission Response - Better Advice) Regulations 2021 (F2021L01854)

Schedule 1   Amendments

Corporations Regulations 2001

5   After regulation 7.6.06C

Insert:

7.6.06D Register of Relevant Providers - prescribed instruments

(1) For the purposes of subsection 922Q(3) of the Act, the following kinds of instrument made under subsection 921K(1) of the Act are prescribed:

(a) a direction (other than a direction covered by subregulation (2)) that a relevant provider:

(i) undertake specified training; or

(ii) receive specified counselling; or

(iii) receive specified supervision; or

(iv) report specified matters to ASIC;

(b) a registration suspension order;

(c) a registration prohibition order.

(2) A direction is covered by this subregulation if:

(a) on a particular occasion, one or more instruments are made under subsection 921K(1) of the Act in relation to a relevant provider; and

(b) the direction is that instrument or one of those instruments; and

(c) that occasion is the first occasion on which an instrument is made under that subsection in relation to the relevant provider.