Document ID: chunk:federal_register_of_legislation:C2017A00007:clause:1_921g
Version: federal_register_of_legislation:C2017A00007
Segment Type: clause
Provision Reference: sch 1 cl 921G
Character Range: 17587–18760

921G  Meaning of compliance scheme
 (1) A compliance scheme is a scheme:
 (a) that meets the requirements of this section; and
 (b) under which compliance with the Code of Ethics by relevant providers covered by the scheme is monitored and enforced.

Monitoring body of compliance scheme
 (2) A monitoring body for a compliance scheme must monitor and enforce compliance with the Code of Ethics by any relevant provider covered by the scheme.
 (3) A monitoring body for a compliance scheme must not be:
 (a) a financial services licensee; or
 (b) an associate of a financial services licensee.
 (4) A compliance scheme must name the monitoring body for the scheme.

Disputes and complaints
 (5) A compliance scheme must set out how a dispute is to be resolved between the monitoring body for the scheme and a relevant provider covered by the scheme.
 (6) A compliance scheme must set out how a person may make a complaint to the monitoring body for the scheme in relation to a failure to comply with, or possible failure to comply with, the Code of Ethics by a relevant provider covered by the scheme.

Name of compliance scheme
 (7) A compliance scheme must have a name.