Document ID: chunk:federal_register_of_legislation:F2018L01804:reg:12:p2
Version: federal_register_of_legislation:F2018L01804
Segment Type: reg
Provision Reference: reg 12 (pt 2/2)
Character Range: 18316–20612

for a quarter:
 (a) whether the person has completed and maintained his or her logbook for the quarter;
 (b) the number of hours of work activities the person has undertaken, in accordance with the professional year plan, up to the end of the quarter;
 (c) the number of hours of structured training the person has undertaken, in accordance with the professional year plan, up to the end of the quarter;
 (d) the extent to which the person has achieved the particular work and training outcomes set out in the professional year plan for the quarter;
 (e) the extent to which the person is capable of satisfactorily completing the work and structured training for the next quarter;
 (f) for quarter 3 or 4—whether the person's identification and resolution of the ethical dilemmas as required by subsection 10(3) demonstrate the ability to identify ethical issues and resolve them appropriately;
 (g) whether the person has achieved satisfactory progress against the requirements of his or her professional year plan, including satisfactorily addressing areas for further development.

Restrictions on giving final completion certificates
 (6) A completion certificate for quarter 4 of a person's professional year (final completion certificate) must not be given unless the person has, during the professional year:
 (a) completed at least 1,500 hours of work activities; and
 (b) completed at least 100 hours of structured training;
in accordance with the professional year plan and has passed the exam approved by the Corporations (Relevant Providers Exam Standard) Determination 2018.
 (7) A final completion certificate for a person is not valid unless the person's responsible licensee also gives the certificate.
 (8) The responsible licensee must not give a final completion certificate unless:
 (a) the licensee is satisfied of the matters set out in subsection (3); and
 (b) the licensee:
 (i) has conducted an audit of at least 5 client files on which the person worked during the professional year; and
 (ii) is satisfied, having regard to the work done by the person on those files, that the person can be relied on to comply with applicable legal and regulatory requirements applicable to the provision of personal advice to retail clients in relation to relevant financial products.