Document ID: chunk:federal_register_of_legislation:C2022C00218:clause:1_921m
Version: federal_register_of_legislation:C2022C00218
Segment Type: clause
Provision Reference: sch 1 cl 921M
Character Range: 62217–63365

921M  Copy of instrument to be given to relevant provider etc.
 (1) If, under subsection 921K(1), a Financial Services and Credit Panel makes an instrument in relation to a relevant provider, the panel must:
 (a) give a copy of the instrument to the relevant provider; and
 (b) at the same time, give a copy of the instrument to:
 (i) ASIC; and
 (ii) if the relevant provider is authorised to provide personal advice to retail clients, on behalf of a financial services licensee, in relation to relevant financial products—the licensee; and
 (c) at the same time, give the relevant provider a written notice informing the relevant provider of their right to make an application under subsection 921N(3) in relation to the instrument.
Note: ASIC must enter details of certain instruments in the Register of Relevant Providers (see paragraph 922Q(2)(uc)).
 (2) A copy of an instrument given to a person under paragraph (1)(a) or (b) must be accompanied by a statement of reasons for the decision to make the instrument.
 (3) A failure to comply with subsection (1) or (2) in relation to an instrument does not affect the validity of the instrument.