Document ID: chunk:federal_register_of_legislation:C2004A01226:clause:2_38
Version: federal_register_of_legislation:C2004A01226
Segment Type: clause
Provision Reference: sch 2 cl 38
Character Range: 34780–35860

38  After subsection 916F(1)
Insert:

 (1AA) Subsection (1) does not apply to an authorisation of a representative if:
 (a) the authorisation is by a body corporate and is given as mentioned in section 916B; and
 (b) the relevant consent under subsection 916B(5) was given in respect of a specified class of individuals of which the representative is a member; and
 (c) the representative is an employee of the body corporate; and
 (d) the only financial services that the representative is authorised to provide are either or both of the following:
 (i) general advice that relates to financial products covered by regulations made for the purposes of this paragraph;
 (ii) dealing in financial products covered by regulations made for the purposes of this paragraph.

Note 1: Regulations made for the purposes of paragraph (d) may be expressed to cover all financial products, or only one or more specified kinds of financial products.

Note 2: A defendant bears an evidential burden in relation to the matters in subsection (1AA). See subsection 13.3(3) of the Criminal Code.