Document ID: chunk:federal_register_of_legislation:C2024C00826:section:158nd
Version: federal_register_of_legislation:C2024C00826
Segment Type: section
Provision Reference: s 158ND
Character Range: 425441–426038

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.