Document ID: chunk:federal_register_of_legislation:C2025C00012:clause:8_11
Version: federal_register_of_legislation:C2025C00012
Segment Type: clause
Provision Reference: sch 8 cl 11
Character Range: 414248–415635

11  Subsection 916F(1AA)
Repeal the subsection, substitute:
 (1AA) Subsection (1) does not apply to an authorisation of a representative by an authorised representative (the authoriser) if:
 (a) the authorisation is given as mentioned in subsection 916B(3); and
 (b) the relevant consent under subsection 916B(3) 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 authoriser; and
 (d) the only financial services that the representative is authorised to provide are one or more 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;
 (iii) personal advice about a basic deposit product or about a facility for making non‑cash payments that relates to a basic deposit product; and
 (e) the authoriser provides information about the representative and the representative's authorisation when requested.
Note 1: Regulations made for the purposes of paragraph (d) may be expressed to cover all financial products, or only 1 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.