Australian Securities and Investments Commission Corporations (Notification of Authorised Representatives) Instrument 2022/301 (Cth)

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 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This instrument is repealed on 8 June 2027.