ASIC Corporations (Notification of Authorised Representatives) Instrument 2022/301

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ASIC Corporations (Notification of Authorised Representatives) Instrument 2022/301

I, Rhys Bollen, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

 

Date 8 June 2022

 

Rhys Bollen

 

Contents

Part 1—Preliminary

1 Name of legislative instrument

2 Commencement

3 Authority

4 Definitions

Part 2—Declaration

5 Circumstances where notification to ASIC about authorised representatives is not required

Part 3—Repeal

6 Repeal

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Corporations (Notification of Authorised Representatives) Instrument 2022/301.

2 Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislation.

Note: The register may be accessed at www.legislation.gov.au.

3 Authority

This instrument is made under paragraph 926A(2)(c) of the Corporations Act 2001.

4 Definitions

In this instrument:

Act means the Corporations Act 2001.

 Part 2—Declaration

5 Circumstances where notification to ASIC about authorised representatives is not required

Part 7.6 of the Act (other than Divisions 4 and 8) applies in relation to an authorised representative of a financial services licensee as if section 916F were modified or varied as follows:

(a) in subparagraph 916F(1AA)(d)(iii), omit “and”;

(b) after subparagraph 916F(1AA)(d)(iii), insert:

“(iv)  a claims handling and settling service that relates to one or more of the following financial products:

(A) a general insurance product;

(B) a consumer credit insurance product; and”.

 

Part 3—Repeal

6 Repeal

This instrument is repealed on 8 June 2027.