Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_917d
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 917D
Character Range: 326368–327182

917D  Exception if lack of authority is disclosed to client

  A financial services licensee is not responsible under section 917B or 917C for the conduct of their representative if:
 (a) the conduct is not within authority in relation to the licensee (or in relation to any of the licensees, if there were more than one); and
 (b) the representative disclosed that fact to the client before the client relied on the conduct; and
 (c) the clarity and the prominence of the disclosure was such as a person would reasonably require for the purpose of deciding whether to acquire the relevant financial service.

Note: A person must not hold out that conduct, or proposed conduct, of the person is within authority in relation to a particular financial services licensee, unless that is the case. See section 911C.