Document ID: chunk:federal_register_of_legislation:F2024C00618:reg:6:p1
Version: federal_register_of_legislation:F2024C00618
Segment Type: reg
Provision Reference: reg 6 (pt 1/2)
Character Range: 23467–26326

6     The activity is designed to maintain, extend or enhance a participants' professional or technical capabilities, knowledge and skills, including keeping up to date with regulatory, technical and other developments, relevant to providing tax (financial) advice services.                            Tax (financial) advice

 (b) repeal paragraph 9(2)(d) of the Determination and substitute:

 "(d) a minimum of 9 hours in the CPD area of professionalism and ethics; and
 (e) a minimum of 5 hours in the CPD area of tax (financial) advice.".

Division 6—Application and transitional arrangements in relation to additional requirements for relevant providers who provide tax (financial) advice services

Subdivision 6-C—Application and transitional arrangements in relation to requirements to complete specified courses

3-170  Transitional—relevant providers who are registered tax (financial) advisers on 31 December 2021
  The requirements in Division 3 of Part 3 of this instrument do not apply to a person that is, or is to be, a relevant provider if the person was a registered tax (financial) adviser under subsection 20‑5(1) of the Tax Agent Services Act 2009 as in force immediately before 1 January 2022.

3‑171  Transitional—relevant providers awaiting registration as tax (financial) advisers on 31 December 2021
 (1) The requirements in Division 3 of Part 3 of this instrument do not apply to a person, from the start of the day specified in subsection (2), if:
 (a) the person is, or is to be, a relevant provider; and
 (b) before 1 January 2022, the person made an application under section 20‑20 of the Tax Agent Services Act 2009 (as in force immediately before 1 January 2022) for registration as a registered tax (financial) adviser; and
 (c) immediately before 1 January 2022, the application had not been finally determined; and
 (d) after 1 January 2022, the application is granted.
Note: See item 140 in Schedule 1 to the Financial Sector Reform (Hayne Royal Commission Response—Better Advice) Act 2021 for transitional rules in relation to pending applications for registration of registered tax (financial) advisers on 1 January 2022.
 (2) For the purposes of subsection (1), the specified day is the day that a person's registration as a registered tax (financial) adviser commences.

3‑172  Transitional—other relevant providers
 (1) The requirements in Division 3 of Part 3 of this instrument do not apply to a person for the period specified by subsection (2) if:
 (a) the person is, or is to be, a relevant provider; and
 (b) the person is an existing provider (within the meaning of section 1546A of the Act); and
 (c) the person is not covered by section 3‑170 or 3‑171.
 (2) For the purposes of subsection (1), the period specified is the period, for a person, from 1 January 2022 to the earliest of the following times:
 (a)