Document ID: chunk:federal_register_of_legislation:C2025C00185:section:911b:p2
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 911B (pt 2/3)
Character Range: 3656508–3659256

provider) provided the service, the principal would not need an Australian financial services licence because the provision of the service would be exempt under:
 (i) subsection 911A(2); or
 (ii) regulations made for the purposes of subsection 926B(1);
 (f) these conditions are satisfied:
 (i) the service is a claims handling and settling service in relation to an insurance product; and
 (ii) the principal holds an Australian financial services licence covering the provision of the service; and
 (iii) either the provider is not a person described in subparagraphs 911A(2)(ek)(i) to (vi) (insurers etc.) or, if the provider is a person described in one of those subparagraphs, the claims handling and settling service is of a kind described in paragraph 911A(2)(en) (legal services);
 (g) these conditions are satisfied:
 (i) the service is a claims handling and settling service in relation to an insurance product; and
 (ii) the principal is an authorised representative of a financial services licensee; and
 (iii) the financial services licensee holds an Australian financial services licence covering the provision of the service; and
 (iv) the authorisation by the financial services licensee covers the provision of the service by the authorised representative; and
 (v) the authorised representative has entered into an arrangement with the provider for the provider to provide the service on behalf of the authorised representative and the financial services licensee; and
 (vi) either the provider is not a person described in subparagraphs 911A(2)(ek)(i) to (vi) (insurers etc.) or, if the provider is a person described in one of those subparagraphs, the claims handling and settling service is of a kind described in paragraph 911A(2)(en) (legal services).
Note 1: Also, a person must not provide a financial service on behalf of another person contrary to a banning order or disqualification order under Division 8.
Note 2: Failure to comply with this subsection is an offence (see subsection 1311(1)).
 (2) Paragraphs (1)(a), (b) and (c) do not apply if the provider is a financial services licensee, unless the principal is an insurer and the provider is acting under a binder given by the principal.
 (3) If, as mentioned in paragraph (1)(d), the provider holds their own Australian financial services licence covering the provision of the service, then, for the purposes of the other provisions of this Chapter, the service is taken to be provided by the provider (and not by the principal) unless regulations made for the purposes of this subsection provide otherwise.
 (4) A person contravenes this subsection if the person contravenes subsection (1).
Note: This subsection is a civil penalty provision (see section 1317E).