Document ID: chunk:federal_register_of_legislation:C2025C00185:section:921c:p2
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 921C (pt 2/2)
Character Range: 3774482–3776368

subsections 921B(2) and (3);
 (b) the individual has not met the education and training standard in subsection 921B(4), and is not undertaking work and training in accordance with that subsection;
 (c) if:
 (i) the individual is to provide a tax (financial) advice service; and
 (ia) the individual is not a registered tax agent; and
 (ii) a determination in force under subsection 921BB(1) sets out a requirement mentioned in any of paragraphs (a) to (d) of that subsection;
  the individual has not met the requirement.

Employees and directors
 (4) A financial services licensee must not authorise an employee or director of the licensee, or of a related body corporate of the licensee, to provide personal advice to retail clients, on behalf of the licensee, in relation to relevant financial products if any of the following paragraphs apply:
 (a) the employee or director has not met either or both of the education and training standards in subsections 921B(2) and (3);
 (b) the employee or director has not met the education and training standard in subsection 921B(4), and is not undertaking work and training in accordance with that subsection;
 (c) if:
 (i) the employee or director is to provide a tax (financial) advice service; and
 (ia) the employee or director is not a registered tax agent; and
 (ii) a determination in force under subsection 921BB(1) sets out a requirement mentioned in any of paragraphs (a) to (d) of that subsection;
  the employee or director has not met the requirement.

Exemption in relation to time‑sharing schemes
 (5) This section does not apply in relation to a person who is to provide personal advice to retail clients in relation to relevant financial products if the only relevant financial product in relation to which the person is to provide personal advice to retail clients is a time‑sharing scheme.

Subdivision B—Ethical standards