Corporations (Relevant Providers—Education and Training Standards) Determination 2021
Division 5Requirements for continuing professional development
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Division 5—Requirements for continuing professional development
3‑120 Requirement for continuing professional development
Under subsection 921BB(1) of the Act, each requirement for continuing professional development in relation to the CPD year of a financial services licensee set out in a provision in this Division, is determined as a requirement for a person who provides, or is to provide, a tax (financial) advice service.
3‑125 Additional requirements for tax‑specific CPD
(1) A relevant provider who provides, or is to provide a tax (financial) advice service, must complete continuing professional development activities, in accordance with this section, to maintain and extend their knowledge and skills in Australian commercial and taxation law, as is relevant to providing a tax (financial) advice service. (2) The additional requirements set out in this section for continuing professional development activities in commercial and taxation law supplement the education and training standards for relevant providers relating to continuing professional development as determined by the Minister in the Corporations (Relevant Providers Continuing Professional Development Standard) Determination 2018. (3) The requirements in the Corporations (Relevant Providers Continuing Professional Development Standard) Determination 2018 are to be supplemented by applying the Determination as if all the following changes had been incorporated into the Determination: (a) repeal item 1 in the table in section 7 of the Determination and substitute:
| Item | Column 2 | Column 3 |
|---|---|---|
| Content of CPD activity | CPD area | |
| 1 | The activity is designed to enhance participants’ technical proficiency and ability to develop and provide advice strategies that are appropriate to the objectives, financial situations and needs of different classes of retail clients, but is not in an area referred to in item 6 of this table. | Technical competence |
| 2 | The activity is designed to enhance participants’ ability to act as a client‑centric practitioner in advising retail clients, but is not in an area referred to in item 6 of this table. | Client care and practice |
| 3 | The activity is designed to enhance participants’ understanding of applicable legal obligations and how to comply with them, but is not in an area referred to in item 6 of this table. | Regulatory compliance and consumer protection |