Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_916c
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 916C
Character Range: 314856–315529

916C  Authorised representative of 2 or more licensees

 (1) One person can be the authorised representative of 2 or more financial services licensees, but only if:
 (a) each of those licensees has consented to the person also being the authorised representative of each of the other licensees; or
 (b) each of those licensees is a related body corporate of each of the other licensees.

 (2) A purported authorisation given in breach of this requirement is void.

 (3) A person must not give a purported authorisation if that purported authorisation is in breach of this requirement.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).