Document ID: chunk:federal_register_of_legislation:C2022C00218:clause:1_42
Version: federal_register_of_legislation:C2022C00218
Segment Type: clause
Provision Reference: sch 1 cl 42
Character Range: 42614–43575

42  At the end of section 921B
Add:

Determinations by Minister
 (6) The Minister may, by legislative instrument, do any or all of the following in one or more determinations:
 (a) approve bachelor or higher degrees, or equivalent qualifications, for the purposes of paragraph (2)(a);
 (b) approve principles for the purposes of subsection (3);
 (c) set requirements for work and training for the purposes of subsection (4);
 (d) set requirements for continuing professional development for the purposes of subsection (5) in relation to the CPD year of a financial services licensee, the period mentioned in subsection 1546E(5), or any other period determined by the Minister.
 (7) Before exercising the power in subsection (6), the Minister must be satisfied that doing so is necessary or desirable to ensure that relevant providers are adequately trained and competent to provide personal advice to retail clients in relation to relevant financial products.