Document ID: chunk:federal_register_of_legislation:C2022C00218:clause:1_921ba
Version: federal_register_of_legislation:C2022C00218
Segment Type: clause
Provision Reference: sch 1 cl 921BA
Character Range: 43607–45186

921BA  Relevant providers to meet education and training standards

Qualifications
 (1) A relevant provider must meet the education and training standard in subsection 921B(2).

Exam
 (2) A relevant provider must meet the education and training standard in subsection 921B(3).

Work and training
 (3) A relevant provider must either:
 (a) meet the education and training standard in subsection 921B(4); or
 (b) be undertaking work and training in accordance with that subsection.

Continuing professional development
 (4) A relevant provider must comply with subsection 921B(5):
 (a) in the case of a relevant provider who is a financial services licensee—during the licensee's CPD year; or
 (b) in the case of a relevant provider who is authorised to provide personal advice to retail clients, on behalf of a financial services licensee, in relation to relevant financial products—during the licensee's CPD year.
Note: Section 922HB requires a notice to be given at the end of a financial services licensee's CPD year if a relevant provider has not complied with this subsection during that year.

Civil liability
 (5) A person contravenes this subsection if the person contravenes subsection (1), (2), (3) or (4).
Note 1: This subsection is a restricted civil penalty provision (see sections 921Q and 1317E).
Note 2: ASIC or a Financial Services and Credit Panel may take certain other action against a relevant provider who contravenes subsection (1), (2), (3) or (4) (see Division 8B).
Note 3: Exemptions apply in relation to certain relevant providers (see section 921BC).