Document ID: chunk:federal_register_of_legislation:C2017A00007:clause:1_1546c
Version: federal_register_of_legislation:C2017A00007
Segment Type: clause
Provision Reference: sch 1 cl 1546C
Character Range: 86052–87583

1546C  Application of limitation on authorisation to provide personal advice and offence

Limitation on authorisation to provide personal advice
 (1) Section 921C, as inserted by the amending Act, applies in relation to:
 (a) any Australian financial services licence granted on or after 1 January 2019 to a person who is not a relevant provider before that day; and
 (b) any authorisation given on or after that day to a person who is not a relevant provider before that day.
Note: Section 921C provides that a person cannot be granted a licence, or be authorised, to provide certain financial advice unless the person meets certain conditions.
 (2) Section 921C, as inserted by the amending Act, applies, on and after 1 January 2024, in relation to a person who ceases to be a relevant provider under subsection 1546B(4).
 (3) Section 921C, as inserted by the amending Act, applies, on and after 1 January 2021, in relation to a person who ceases to be a relevant provider under subsection 1546B(5).
 (4) Section 921C, as inserted by the amending Act, does not apply in relation to a person who is an existing provider while the person continues to be a relevant provider.

Restriction on use of terms "financial adviser" and "financial planner"
 (5) The following provisions, as inserted by the amending Act, apply on and after 1 January 2019:
 (a) section 923C;
 (b) items 269AAA and 269AAB of the table in Schedule 3.
Note: Those provisions relate to offences for using the terms "financial adviser" and "financial planner".