Document ID: chunk:federal_register_of_legislation:C2023C00239:clause:3_158nd
Version: federal_register_of_legislation:C2023C00239
Segment Type: clause
Provision Reference: sch 3 cl 158ND
Character Range: 20659–21256

158ND  Employer must not give employees conflicted remuneration
 (1) An employer of a licensee must not give the licensee conflicted remuneration in circumstances prescribed by the regulations if the licensee is:
 (a) a mortgage broker; or
 (b) a mortgage intermediary.
Civil penalty: 5,000 penalty units.
 (2) An employer of a representative of a licensee must not give the representative conflicted remuneration in circumstances prescribed by the regulations if the licensee or the representative is:
 (a) a mortgage broker; or
 (b) a mortgage intermediary.
Civil penalty: 5,000 penalty units.