Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:4:p13
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 4 (pt 13/60)
Character Range: 847094–849840

matters in subsection (6). See subsection 13.3(3) of the Criminal Code.

Continuing contravention
 (7) If a person assumes or uses a word or expression in circumstances that give rise to the person committing an offence under subsection (1) or (2), the person commits the offence in respect of:
 (a) the first day on which the offence is committed; and
 (b) each subsequent day (if any) on which the circumstances that gave rise to the person committing the offence continue (including the day of conviction for any such offence or any later day).

References to restricted word or expression
 (8) In this section:
 (a) a reference to a restricted word or expression is a reference to:
 (i) the expression financial adviser or financial planner; or
 (ii) any other word or expression specified in the regulations as a restricted word or expression for the purposes of this section; or
 (iii) any other word or expression (whether or not in English) that is of like import to a word or expression covered by any of the previous subparagraphs; and
 (b) a reference to a restricted word or expression being assumed or used includes a reference to the restricted word or expression being assumed or used:
 (i) as part of another word or expression; or
 (ii) in combination with other words, letters or other symbols.
 (9) However, a reference in this section to a restricted word or expression does not include a reference to a word or expression mentioned in paragraph (8)(a) if:
 (a) the word or expression mentioned in that paragraph is assumed or used in relation to a provisional relevant provider; and
 (b) the word or expression is assumed or used as part of a word or expression specified by the standards body for the purposes of subparagraph 921U(2)(a)(v).

Contravention does not affect arrangements for compensation
 (10) To avoid doubt, this section does not affect the obligation of a financial services licensee to have arrangements in place under section 912B.
Note: Section 912B requires financial services licensees to have in place arrangements for compensation if the licensee provides financial services to retail clients.".

7.6.07B  Exam for existing providers
 (1) For the purposes of paragraph 1684B(a) of the Act, 1 October 2022 is prescribed in relation to an existing provider who is a relevant provider if, at least twice before 1 January 2022, the existing provider sat an exam approved for the purposes of subsection 921B(3) of the Act as in force immediately before 1 January 2022.
 (2) In this regulation:
existing provider has the meaning given by section 1546A of the Act.

Part 7.6B—Provision of information to APRA about contracts of insurance

7.6.08A  Definitions
  In this Part:
general insurer has the same