Document ID: chunk:federal_register_of_legislation:C2022C00218:clause:1_921zc
Version: federal_register_of_legislation:C2022C00218
Segment Type: clause
Provision Reference: sch 1 cl 921ZC
Character Range: 87654–89991

921ZC  Registration of relevant providers
 (1) Subject to subsections (2) and (3), if an application is made in accordance with section 921ZA or 921ZB to register a relevant provider, ASIC must register the relevant provider by recording in the Register of Relevant Providers that the relevant provider is registered under this subsection.

Refusal to register relevant provider
 (2) ASIC must refuse to register the relevant provider if:
 (a) a banning order is in force against the relevant provider that has the effect that the relevant provider is prohibited from providing personal advice to retail clients in relation to relevant financial products; or
 (b) a disqualification order under Division 8 is in force against the relevant provider that has the effect of disqualifying the relevant provider from providing personal advice to retail clients in relation to relevant financial products.
 (3) If a registration prohibition order is in force against the relevant provider, ASIC must refuse to register the relevant provider until after the prohibition end day specified in the order.

Notice of registration
 (4) If:
 (a) the application is made in accordance with section 921ZA; and
 (b) ASIC registers the relevant provider under subsection (1);
ASIC must, as soon as practicable after recording in the Register of Relevant Providers that the relevant provider is registered under subsection (1), give a written notice of the registration to the relevant provider.
 (5) If:
 (a) the application is made in accordance with section 921ZB; and
 (b) ASIC registers the relevant provider under subsection (1);
ASIC must, as soon as practicable after recording in the Register of Relevant Providers that the relevant provider is registered under subsection (1), give a written notice of the registration to:
 (c) the relevant provider; and
 (d) the applicant.

Notice of refusal to register relevant provider
 (6) If ASIC refuses to register the relevant provider, ASIC must, within 5 business days after the refusal, give a written notice of the refusal to:
 (a) the relevant provider; and
 (b) if the application is made in accordance with section 921ZB—the applicant.
 (7) The notice must specify which of the following provisions apply in relation to the relevant provider:
 (a) paragraph (2)(a) or (b);
 (b) subsection (3).