Document ID: chunk:federal_register_of_legislation:C2025C00185:section:911a:p5
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 911A (pt 5/6)
Character Range: 3650143–3652935

other than a deceased financial services licensee;
 (ix) subject to subsection (3), as a personal representative of a deceased financial services licensee;
 (x) in the administration of a bankrupt estate or in the winding up of a body corporate or partnership;
 (g) all of the following apply:
 (i) the person is a body regulated by APRA;
 (ii) the service is one in relation to which APRA has regulatory or supervisory responsibilities;
 (iii) the service is provided only to wholesale clients;
 (ga) the service is a superannuation trustee service that is provided only to wholesale clients;
 (h) all of the following apply:
 (i) the person is regulated by an overseas regulatory authority;
 (ii) the provision of the service by the person is covered by an exemption specified by ASIC in writing under this subparagraph and published in the Gazette; and
 (iii) the service is provided only to wholesale clients;
 (i) the person provides the service only to related bodies corporate of the person;
 (j) the person provides the service in the person's capacity as trustee of a self managed superannuation fund;
 (k) the provision of the service is covered by an exemption prescribed in regulations made for the purposes of this paragraph;
 (l) the provision of the service is covered by an exemption specified by ASIC in writing and published in the Gazette.
Note 1: A defendant bears an evidential burden in relation to the matters in this subsection. See subsection 13.3(3) of the Criminal Code.
Note 2: A person is also exempt from the requirement to hold an Australian financial services licence in relation to certain services connected with offers that are eligible to be made under Division 1A of Part 7.12 (Employee share schemes): see subsection 1100ZC(7).
 (3) Subparagraph (2)(f)(ix) only applies until whichever of these happens first:
 (a) the end of 6 months after the death of the licensee;
 (b) the removal or discharge of the personal representative;
 (c) the final distribution of the licensee's estate.
 (4) A person is not exempt under any paragraph of subsection (2) for a financial service they provide if the service is:
 (a) the operation of a registered scheme; or
 (b) a traditional trustee company service.
 (4A) A person is not exempt under any paragraph of subsection (2) for a superannuation trustee service unless the exemption expressly covers a superannuation trustee service.
 (5) The exemption under paragraph (2)(ea), (eb) or (ec), or an exemption under subparagraph (2)(h)(ii) or under paragraph (2)(k) or (l), may apply unconditionally or subject to conditions:
 (a) in the case of the exemption under paragraph (2)(ea), (eb) or (ec), or an exemption under paragraph (2)(k)—specified in regulations made for the purposes of this paragraph; or
 (b) in the