in relation to a Financial Services and Credit Panel—a member of the panel appointed under subsection 140(1); and

to provide such staff and support facilities to Financial Services and Credit Panels as are necessary or desirable for the performance and exercise by the panels of their functions and powers;

a Financial Services and Credit Panel;

the Tax Practitioners Board;

information about the following:

the activities (if any) that have been undertaken by each Financial Services and Credit Panel during the period;

the exams (if any) that have been administered by ASIC under subsection 921B(3) of the Corporations Act during the period;

the warnings (if any) and reprimands (if any) given by ASIC to relevant providers under section 921S of the Corporations Act during the period;

if, during the period, ASIC decided not to follow a recommendation in a notice given to ASIC under subsection 921Q(1) of the Corporations Act (recommendations to ASIC in relation to restricted civil penalty provisions)—the recommendation and the reasons why ASIC decided not to follow it;

a Chair;

at least 2 other members.

the person is not a member of ASIC; and

the person is not a staff member; and

the Minister is satisfied that the person has experience or knowledge in at least one of the following fields:

business;

administration of companies;

financial markets;

financial products and financial services;

law;

economics;

accounting;

taxation;

credit activities and credit services.

perform its functions and exercise its powers under the corporations legislation; and

perform functions or exercise powers delegated to the panel by ASIC under section 102 of this Act.

if the disclosure is made at a meeting of the panel—in the minutes of that meeting; or

otherwise—in the minutes of the next meeting of the panel after the disclosure is made.

must not be present during any deliberation by the panel on the matter; and

must not take part in any decision of the panel with respect to the matter.

a member of the panel is required under section 150 not to be present during the deliberations, or to take part in any decision, of the panel with respect to a particular matter; and

when the member leaves the meeting concerned there is no longer a quorum present;

at a particular place; or

using any technology that allows an individual to participate in the meeting, or that part of the meeting, without being physically present at the meeting or that part of the meeting.

each member of the panel may use that technology to participate in the meeting or that part of the meeting; and

the meeting or that part of the meeting may be held at 2 or more places at the same time.

the Chair of the panel informs the other members of the panel of the proposed decision, or makes reasonable efforts to do so; and

without meeting, a majority of the members of the panel entitled to vote on the proposed decision indicate agreement with the decision; and

that agreement is indicated in accordance with the method determined by the panel under subsection (2).

the Chair of the panel is not prevented by subsection 148(3) from convening a meeting in relation to the proposed decision; and

the panel:

has determined that it may make decisions of that kind without meeting; and

has determined the method by which members of the panel are to indicate agreement with proposed decisions.

a member of the panel (other than the Chair of the panel) is not entitled to vote on a proposed decision if the member would not have been entitled to vote on that proposal if the matter had been considered at a meeting of the panel; and

if:

the number of members indicating agreement with the decision is equal to the number of members not indicating agreement with the decision; and

the Chair of the panel indicates the Chair’s agreement with the decision;

the panel proposes to make:

a decision to make an order, as an ASIC delegate, against a person under subsection 920A(1) of the Corporations Act (ASIC’s power to make a banning order); or

(ii) a decision to make an order, as an ASIC delegate, against a person under subsection 80(1) of the National Consumer Credit Protection Act 2009 (ASIC’s power to make a banning order); or

a relevant provider requests that the panel hold a hearing in response to a proposed action notice given to the relevant provider.

paragraph 171E(3)(a) of this Act (variation, withdrawal and enforcement of undertakings given to Financial Services and Credit Panels); or

subsection 921N(2) or paragraph 921N(4)(a) of the Corporations Act (variation or revocation of instruments affecting relevant providers).

any evidence given, or any submission made, to it at a hearing of the panel;

any submission lodged with it under subsection 162(2);

any submission made in response to a proposed action notice;

is not bound by the rules of evidence; and

may, on such conditions as it thinks fit, permit a person to intervene; and

must observe the rules of natural justice.

at a particular place; or

using any technology that allows an individual to participate in the hearing, or that part of the hearing, without being physically present at the hearing or that part of the hearing.

each participant in the hearing (including each member of the panel) may use that technology to participate in the hearing or that part of the hearing; and

the hearing or that part of the hearing may be held at 2 or more places at the same time.

the Chair of the panel must appoint a time for the hearing and give written notice of that time to the person; and

if the Chair of the panel decides under paragraph 159(3)(a) to hold the hearing, or part of the hearing, at a particular place—the Chair must give written notice of the place to the person; and

if the Chair of the panel decides under paragraph 159(3)(b) to hold the hearing, or part of the hearing, using technology that allows an individual to participate in the hearing, or that part of the hearing, without being physically present at the hearing or that part of the hearing—the Chair must give notice of the technology to be used to the person.

the panel has decided, under paragraph 163(2)(a), to hold the hearing or the part of the hearing, as the case may be, in public; or

the person is required by a summons under subsection 165(1) to appear at the hearing; or

the Chair of the panel gives a written direction naming the person; or

both the following apply:

the person is a staff member;

the Chair of the panel has not directed the person to leave the hearing or the part of the hearing, as the case may be; or

the person is covered by subsection (2).

the affected person;

a person who is, under section 164, representing:

the affected person; or

a person required by a summons under subsection 165(1) to appear at the hearing.

hold the hearing (or that part of the hearing) in public; or

not hold the hearing (or that part of the hearing) in public.

whether evidence that may be given, or a matter that may arise, during the hearing (or that part of the hearing) is of a confidential nature or relates to the commission, or to the alleged or suspected commission, of an offence;

any unfair prejudice to a person’s reputation that would be likely to be caused if the hearing (or that part of the hearing) took place in public;

whether it is in the public interest that the hearing (or that part of the hearing) take place in public;

any other relevant matter.

require the person to appear before the panel at the hearing to give evidence, to produce specified documents, or to do both; and

require the person to attend from day to day unless excused, or released from further attendance, by the Chair.

require a person appearing at the hearing to either take an oath or make an affirmation; and

administer an oath or affirmation to a person appearing at the hearing.

may require a person appearing at the hearing to answer a question put to the person; and

may require a person appearing at the hearing pursuant to a summons issued under this section to produce a document specified in the summons.

if the summons was issued at the affected person’s request—the affected person; or

otherwise—ASIC.

whether evidence that has been or may be given, or a matter that has arisen or may arise, during the hearing is:

of a confidential nature; or

relates to the commission, or to the alleged or suspected commission, of an offence against an Australian law; and

any unfair prejudice to a person’s reputation that would be likely to be caused unless the panel gives a direction restricting the publication of that evidence or those matters; and

whether it is in the public interest that the panel gives a direction restricting the publication of that evidence or those matters; and

any other relevant matter.

the person does an act or omits to do an act; and

the act or omission results in the obstruction or hindering of a Financial Services and Credit Panel, or a member of the panel, in the performance or exercise of any of the panel’s functions and powers.

the person does an act or omits to do an act; and

the act or omission results in the disruption of a hearing.

the person gives evidence at a hearing of a Financial Services and Credit Panel; and

the evidence is false or misleading in a material particular.

the person is required to do something in accordance with a summons given to the person under subsection 165(1); and

the person fails to comply with the requirement.

the person is required under paragraph 165(2)(a) to take an oath or make an affirmation; and

the person fails to comply with the requirement.

the person is required under subsection 165(4) to answer a question or produce a document; and

the person fails to comply with the requirement.

the person is present at a hearing, or a part of a hearing, of a Financial Services and Credit Panel; and

the panel has not decided, under paragraph 163(2)(a), to hold the hearing or the part of the hearing, as the case may be, in public; and

the person is not named in a direction of the Chair of the panel in force under paragraph 161(1)(c); and

the person is not covered by subsection 161(2).

the person publishes evidence given before, or matters contained in documents lodged with, a Financial Services and Credit Panel; and

a direction restricting the publication of that evidence or those matters is in force under subsection 167(1).

make, while the reference is pending, a decision to which the question is relevant; or

proceed in a manner, or make a decision, that is inconsistent with the Court’s opinion on the question.

ASIC must send to the Court all documents that were before the panel in connection with the hearing; and

at the end of the proceeding in the Court in relation to the reference, the Court must cause the documents to be returned to ASIC.

the person is or was a member of a Financial Services and Credit Panel; and

the person uses or discloses information; and

the information was obtained by the person in connection with the performance of the panel’s functions or the exercise of the panel’s powers.

is required or permitted by a law of the Commonwealth or a prescribed law of a State or Territory; or

(b) is made to ASIC for the purposes of the performance of ASIC’s functions, or the exercise of its powers, under the corporations legislation or the National Consumer Credit Protection Act 2009; or

(c) is made to the Tax Practitioners Board for the purposes of the performance of the Board’s functions, or the exercise of its powers, under the Tax Agent Services Act 2009; or

is made for the purposes of the performance of the panel’s functions or the exercise of its powers; or

is made to another Financial Services and Credit Panel for the purposes of the performance of the other panel’s functions or the exercise of the other panel’s powers.

request a Financial Services and Credit Panel to decide whether it consents to the person withdrawing or varying the undertaking; or

refuse to make such a request.

ASIC makes a request of a Financial Services and Credit Panel under paragraph (3)(a) in relation to the variation or withdrawal; and

the panel consents to the variation or withdrawal.

an order directing the person to comply with that term of the undertaking;

an order directing the person to pay to the Commonwealth an amount up to the amount of any financial benefit that the person has obtained directly or indirectly and that is reasonably attributable to the breach;

any order that the Court considers appropriate directing the person to compensate any other person who has suffered loss or damage as a result of the breach;

any other order that the Court considers appropriate.

a Financial Services and Credit Panel; or

the Chair of a Financial Services and Credit Panel; or

ASIC;

a Financial Services and Credit Panel; or

the Chair of a Financial Services and Credit Panel; or

ASIC;

(a) definition of compliance scheme;

(b) definition of covers.

subsection 921BA(4); or

subsection 921BB(3).

the person is a relevant provider; and

if a determination is in force under subsection 921BB(1)—the person meets each requirement set out in the determination that is of a kind mentioned in any of paragraphs (a) to (d) of that subsection.

either:

ASIC has not delegated its power to make the banning order to a Financial Services and Credit Panel; or

ASIC exercises its power to make the banning order despite such a delegation; and

ASIC’s grounds for making the banning order are or include both of the following:

that the suspension or cancellation of the relevant licence took place under section 915B;

that the person has been convicted of serious fraud.

the Minister has approved the foreign qualification under section 921G.

approve bachelor or higher degrees, or equivalent qualifications, for the purposes of paragraph (2)(a);

approve principles for the purposes of subsection (3);

set requirements for work and training for the purposes of subsection (4);

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.

meet the education and training standard in subsection 921B(4); or

be undertaking work and training in accordance with that subsection.

in the case of a relevant provider who is a financial services licensee—during the licensee’s CPD year; or

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.

a requirement that the person has completed one or more specified bachelor or higher degrees;

a requirement that the person has completed one or more specified qualifications;

a requirement that the person has completed one or more specified courses;

a requirement that the person has undertaken specified work and training;

a requirement for continuing professional development in relation to the CPD year of a financial services licensee or any other period determined by the Minister.

in the case of a relevant provider who is a financial services licensee—during the licensee’s CPD year; or

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.

the applicant has not met any one or more of the education and training standards in subsections 921B(2) to (4);

if:

the applicant is to provide a tax (financial) advice service; and

a determination in force under subsection 921BB(1) sets out a requirement mentioned in any of paragraphs (a) to (c) of that subsection;

if:

the applicant is to provide a tax (financial) advice service; and

a determination in force under subsection 921BB(1) includes a requirement for a person who is to provide a tax (financial) advice service to have undertaken specified work and training;

the person has not met either or both of the education and training standards in subsections 921B(2) and (3);

the person has not met the education and training standard in subsection 921B(4), and is not undertaking work and training in accordance with that subsection;

if:

the person is to provide a tax (financial) advice service; and

a determination in force under subsection 921BB(1) sets out a requirement mentioned in any of paragraphs (a) to (d) of that subsection;

the individual has not met either or both of the education and training standards in subsections 921B(2) and (3);

the individual has not met the education and training standard in subsection 921B(4), and is not undertaking work and training in accordance with that subsection;

if:

the individual is to provide a tax (financial) advice service; and

a determination in force under subsection 921BB(1) sets out a requirement mentioned in any of paragraphs (a) to (d) of that subsection;

the employee or director has not met either or both of the education and training standards in subsections 921B(2) and (3);

the employee or director has not met the education and training standard in subsection 921B(4), and is not undertaking work and training in accordance with that subsection;

if:

the employee or director is to provide a tax (financial) advice service; and

a determination in force under subsection 921BB(1) sets out a requirement mentioned in any of paragraphs (a) to (d) of that subsection;

approve the foreign qualification in accordance with subsection (3); or

refuse to approve the foreign qualification.

the Minister is satisfied that the foreign qualification gives the person qualifications equivalent to a degree or qualification approved by the Minister for the purposes of paragraph 921B(2)(a); or

both of the following apply:

the Minister specifies one or more courses to be completed by the person under subsection (4) of this section;

the person completes each of those courses.

if the Minister specifies one or more courses to be completed by the person under subsection (4)—when the person has completed all of those courses; or

otherwise—when it is given.

paragraph 921B(6)(d); or

paragraph 921BB(1)(e).

the relevant provider becomes an insolvent under administration; or

the relevant provider is convicted of fraud; or

(c) the panel reasonably believes, having regard to the matters specified in Crimes Act 1914, that the relevant provider is not a fit and proper person to provide personal advice to retail clients in relation to relevant financial products; orsection 921U but subject to Part VIIC of the

the panel reasonably believes that the relevant provider has contravened a financial services law (including a restricted civil penalty provision); or

the relevant provider has been involved in the contravention of a financial services law (including a restricted civil penalty provision) by another person; or

the relevant provider has, at least twice, been linked to a refusal or failure to give effect to a determination made by AFCA relating to a complaint that relates to:

a financial services business; or

(ii) credit activities (within the meaning of the National Consumer Credit Protection Act 2009); or

subsection 920A(1C) (when a person has been an officer of a corporation unable to pay its debts) applies to the relevant provider in relation to 2 or more corporations.

the panel gave the relevant provider a proposed action notice in relation to a proposal to make the instrument because of the relevant circumstances and either:

no submission or request for a hearing was made within the response period for the notice; or

a submission or request for a hearing was made within the response period for the notice and the panel has taken into account the submission or held the hearing (as the case may be); or

all of the following apply:

the panel gave the relevant provider a proposed action notice in relation to a proposal to make a different instrument in relation to the relevant circumstances or to give the relevant provider an infringement notice in relation to the relevant circumstances;

a submission or request for a hearing was made within the response period for the notice;

the panel has taken into account the submission or held the hearing (as the case may be).

a written direction that a relevant provider:

undertake specified training; or

receive specified counselling; or

receive specified supervision; or

report specified matters to ASIC;

(b) a written order (a registration suspension order) suspending a relevant provider’s registration under subsection 921ZC(1) for a period (the suspension period) specified in the order;

(c) a written order (a registration prohibition order) that:

(i) cancels the registration of a relevant provider under subsection 921ZC(1) at a time (the cancellation time) specified in the order; and

(ii) provides that the relevant provider is not to be registered under that subsection until after a day (the prohibition end day) specified in the order.

the relevant provider’s registration under subsection 921ZC(1) will cease to be in force at the cancellation time specified in the order (unless the registration has ceased to be in force at an earlier time) (see sections 921ZD and 921ZE); and

ASIC must refuse to register the relevant provider until after the prohibition end day specified in the order (see subsection 921ZC(3)).

give a copy of the instrument to the relevant provider; and

at the same time, give a copy of the instrument to:

ASIC; and

if the relevant provider is authorised to provide personal advice to retail clients, on behalf of a financial services licensee, in relation to relevant financial products—the licensee; and

at the same time, give the relevant provider a written notice informing the relevant provider of their right to make an application under subsection 921N(3) in relation to the instrument.

the instrument to be revoked; or

a specified variation to be made to the instrument.

request a Financial Services and Credit Panel to make a decision under subsection (5) in relation to the instrument; or

refuse to make such a request.

revoke the instrument; or

if the relevant provider made an application under subsection (3)—make the variation of the instrument specified in the application; or

make a variation of the instrument (even if the relevant provider made an application under subsection (3) and the application specified another variation); or

refuse to revoke the instrument; or

refuse to vary the instrument.

if the decision is mentioned in paragraph (5)(a), (b) or (c)—all of the following:

the relevant provider;

ASIC;

if the relevant provider is authorised to provide personal advice to retail clients, on behalf of a financial services licensee, in relation to relevant financial products—the licensee; or

otherwise—the relevant provider.

(a) make an instrument under subsection 921K(1) in relation to the relevant provider because of circumstances (the relevant circumstances) mentioned in that subsection; or

give the relevant provider an infringement notice for the alleged contravention by the relevant provider of a restricted civil penalty provision.

set out details of the action proposed to be taken, including:

for an action mentioned in paragraph (1)(a)—the relevant circumstances; and

for an action mentioned in paragraph (1)(b)—the alleged contravention and the amount to be stated in the infringement notice for the purposes of paragraph 1317DAP(1)(f); and

(b) invite the relevant provider to do either of the following within the period of 28 days beginning on the day the notice is given (or such longer period as is approved by the panel) (the response period):

make a submission, in writing, in relation to the action;

make a request, in writing, that the panel hold a hearing under Division 4 of Part 9 of the ASIC Act in relation to the action; and

inform the relevant provider that if no submission or request for a hearing is made within the response period, the panel may take the action; and

for an action mentioned in paragraph (1)(a)—inform the relevant provider that if the panel makes an instrument under subsection 921K(1), ASIC may be required to enter details of the instrument in the Register of Relevant Providers in accordance with paragraph 922Q(2)(uc).

subsection 921BA(5);

subsection 921BB(4);

subsection 921E(3);

subsection 921F(8);

section 921Y.

a Financial Services and Credit Panel making an instrument under subsection 921K(1) in relation to the qualified tax relevant provider;

ASIC giving the qualified tax relevant provider a warning or reprimand under subsection 921S(1);

a Financial Services and Credit Panel giving the qualified tax relevant provider a warning or reprimand under subsection 921T(1);

a Financial Services and Credit Panel giving the qualified tax relevant provider an infringement notice for the alleged contravention by the qualified tax relevant provider of a restricted civil penalty provision;

ASIC making an application under subsection 1317J(1) in relation to the alleged contravention by the qualified tax relevant provider of a restricted civil penalty provision;

a Financial Services and Credit Panel accepting an undertaking by the qualified tax relevant provider under subsection 171E(1) of the ASIC Act.

details of the action; and

if the action is a Financial Services and Credit Panel making an instrument under subsection 921K(1)—the panel’s reasons for making the instrument; and

if the action is ASIC giving the qualified tax relevant provider a warning or reprimand—ASIC’s reasons for giving the warning or reprimand; and

if the action is a Financial Services and Credit Panel giving the qualified tax relevant provider a warning or reprimand—the panel’s reasons for giving the warning or reprimand.

ASIC has given a notice to the Tax Practitioners Board under subsection (1); and

an instrument mentioned in that notice is subsequently varied, revoked or withdrawn.

ASIC reasonably believes that one or more of the following circumstances exist or have occurred in relation to the relevant provider:

(i) the relevant provider is not a fit and proper person to provide personal advice to retail clients in relation to relevant financial products, having regard to the matters specified in Crimes Act 1914;section 921U but subject to Part VIIC of the

the relevant provider has contravened a financial services law (including a restricted civil penalty provision);

a circumstance mentioned in any of paragraphs 921K(1)(a), (b), (e), (f) or (g) (power of Financial Services and Credit Panels to take action against relevant providers); and

ASIC has not convened, and does not propose to convene, a Financial Services and Credit Panel under subsection 139(1) of the ASIC Act to perform functions or exercise powers under the corporations legislation in relation to that circumstance or those circumstances; and

ASIC has not exercised, and does not propose to exercise, any of its powers under the corporations legislation (other than this section) against the relevant provider in relation to that circumstance or those circumstances.

(a) the relevant provider is not a fit and proper person to provide personal advice to retail clients in relation to relevant financial products, having regard to the matters specified in Crimes Act 1914; orsection 921U but subject to Part VIIC of the

the relevant provider has contravened a financial services law (including a restricted civil penalty provision); or

a circumstance mentioned in any of paragraphs 921K(1)(a), (b), (e), (f) or (g) (power of Financial Services and Credit Panels to take action against relevant providers) exists or has occurred in relation to the relevant provider.

ASIC; and

if the relevant provider is authorised to provide personal advice to retail clients, on behalf of a financial services licensee, in relation to relevant financial products—the licensee.

whether any of the following of the relevant provider has ever been suspended or cancelled:

an Australian financial services licence;

(ii) an Australian credit licence, or a registration under the Transitional Act, within the meaning of the National Consumer Credit Protection Act 2009;

whether any of the following has ever been made against the relevant provider:

a banning order, or a disqualification order under Subdivision B of Division 8 of this Part;

(ii) a banning order, or a disqualification order, under National Consumer Credit Protection Act 2009;Part 2-4 of the

whether the relevant provider has ever been disqualified under this Act, or any other law of the Commonwealth or of a State or Territory, from managing corporations;

(d) whether the relevant provider has ever been banned from engaging in a credit activity (within the meaning of the National Consumer Credit Protection Act 2009) under a law of a State or Territory;

whether the relevant provider has ever been linked to a refusal or failure to give effect to a determination made by AFCA;

whether the relevant provider has ever been an insolvent under administration;

whether, in the last 10 years, the relevant provider has been convicted of an offence;

any relevant information given to ASIC, or an authority of a State or Territory, in relation to the relevant provider;

whether, in the last 10 years, a Financial Services and Credit Panel has made an instrument under subsection 921K(1) in relation to the relevant provider;

whether, in the last 10 years, a Financial Services and Credit Panel has given the relevant provider an infringement notice (unless the infringement notice was withdrawn);

any other matter prescribed by the regulations;

any other matter the panel considers relevant.

a decision by a Financial Services and Credit Panel to make an instrument under subsection 921K(1);

a decision by a Financial Services and Credit Panel that is covered by paragraph 921N(5)(c), (d) or (e);

a decision by a Financial Services and Credit Panel to give a relevant provider a warning or reprimand under subsection 921T(1).

the panel were a decision maker for the purposes of section 1317D; and

the decision were a decision to which section 1317B applied.

by a Financial Services and Credit Panel, or the Chair of a Financial Services and Credit Panel, under a provision of this Act; or

by ASIC under any of the following:

Division 8A of this Part (Professional standards for relevant providers etc.);

this Division;

Division 8C of this Part (Registration of relevant providers);

Division 3 of Part 9.4AB (Infringement notices given by Financial Services and Credit Panels).

it is reasonable to expect that the document would be readily accessible so as to be useable for subsequent reference; and

there is a nominated electronic address in relation to the recipient.

a Financial Services and Credit Panel, or the Chair of a Financial Services and Credit Panel, under a provision of this Act; or

ASIC under any of the following:

Division 8A of this Part (Professional standards for relevant providers etc.);

this Division;

Division 8C of this Part (Registration of relevant providers);

Division 3 of Part 9.4AB (Infringement notices given by Financial Services and Credit Panels).

the person receives a copy or counterpart of the document:

that is in a physical form; or

by means of an electronic communication; and

the copy or counterpart includes the entire contents of the document; and

the person indicates, by means of an electronic communication, that the person has signed the document; and

a method is used to identify the person and to indicate the person’s intention in respect of the information communicated in the document; and

the method used was either:

as reliable as appropriate for the purpose for which the document was generated or communicated, in light of all the circumstances, including any relevant agreement; or

proven in fact to have fulfilled the functions described in paragraph (d), by itself or together with further evidence.

the signature of another person signing the document; or

any material included in the document to identify another person signing the document or to indicate another person’s intention in respect of the contents of the document.

the licensee has given a relevant provider a written notice under subsection 916A(1) authorising the relevant provider to provide personal advice to retail clients, on behalf of the licensee, in relation to relevant financial products; and

the relevant provider provides such advice; and

at the time when the relevant provider does so:

the licensee has not revoked the authorisation under subsection 916A(4); and

no registration of the relevant provider under subsection 921ZC(1) is in force.

the licensee authorises a relevant provider who is an employee or director of the licensee, or of a related body corporate of the licensee, to provide personal advice to retail clients, on behalf of the licensee, in relation to relevant financial products; and

the relevant provider provides such advice; and

at the time when the relevant provider does so:

the licensee has not ceased to authorise the relevant provider as described in paragraph (a); and

no registration of the relevant provider under subsection 921ZC(1) is in force.

be in the approved form; and

include the following written declarations by the relevant provider:

that the relevant provider is a fit and proper person to provide personal advice to retail clients in relation to relevant financial products;

if subsection 921BA(1) applies to the relevant provider—that the relevant provider has met the education and training standard in subsection 921B(2);

if subsection 921BA(2) applies to the relevant provider—that the relevant provider has met the education and training standard in subsection 921B(3);

if subsection 921BA(3) applies to the relevant provider—that the relevant provider has met the education and training standard in subsection 921B(4);

if the relevant provider provides, or is to provide, a tax (financial) advice service—that the relevant provider is a qualified tax relevant provider.

be in the approved form; and

include the following:

a written declaration by the licensee that the relevant provider has given the licensee a declaration that the relevant provider is a fit and proper person to provide personal advice to retail clients in relation to relevant financial products;

a written declaration by the licensee as to whether the licensee is aware of any reason why the relevant provider might not be a fit and proper person to provide personal advice to retail clients in relation to relevant financial products;

if subsection 921BA(1) applies to the relevant provider—a written declaration by the licensee that the relevant provider has met the education and training standard in subsection 921B(2);

if subsection 921BA(2) applies to the relevant provider—a written declaration by the licensee that the relevant provider has met the education and training standard in subsection 921B(3);

if subsection 921BA(3) applies to the relevant provider—a written declaration by the licensee that the relevant provider has met the education and training standard in subsection 921B(4);

if the relevant provider provides, or is to provide, a tax (financial) advice service—a written declaration by the licensee that the relevant provider is a qualified tax relevant provider.

a banning order is in force against the relevant provider that has the effect that the relevant provider is prohibited from providing personal advice to retail clients in relation to relevant financial products; or

a disqualification order under Division 8 is in force against the relevant provider that has the effect of disqualifying the relevant provider from providing personal advice to retail clients in relation to relevant financial products.

the application is made in accordance with section 921ZA; and

ASIC registers the relevant provider under subsection (1);

the application is made in accordance with section 921ZB; and

ASIC registers the relevant provider under subsection (1);

the relevant provider; and

the applicant.

the relevant provider; and

if the application is made in accordance with section 921ZB—the applicant.

paragraph (2)(a) or (b);

subsection (3).

comes into force when ASIC records in the Register of Relevant Providers that the relevant provider is registered under subsection 921ZC(1); and

remains in force until the earliest of the following:

the cancellation time specified in a registration prohibition order in force against the relevant provider;

the time when a banning order against the relevant provider takes effect;

the relevant provider’s Australian financial services licence ceases to be in force.

comes into force when ASIC records in the Register of Relevant Providers that the relevant provider is registered under subsection 921ZC(1); and

remains in force until the earliest of the following:

the cancellation time specified in a registration prohibition order in force against the relevant provider;

the time when a banning order against the relevant provider takes effect;

the licensee ceases to authorise the relevant provider to provide personal advice to retail clients, on behalf of the licensee, in relation to relevant financial products.

information about the educational qualifications of, and any training courses completed by, the relevant provider, to the extent that the qualifications and training courses are relevant to the provision of financial services.

information about the educational qualifications of, and any training courses completed by, the relevant provider, to the extent that the qualifications and training courses are relevant to the provision of financial services.

during the licensee’s CPD year:

a CPD provision applied to the relevant provider; and

the relevant provider did not comply with that provision.

information about any undertaking that the relevant provider has given under:

section 93AA or 171E of the ASIC Act; or

(ii) National Consumer Credit Protection Act 2009;section 322 of the

information about the educational qualifications of, and any training courses completed by, the relevant provider (but not courses completed in accordance with a CPD provision), to the extent that the qualifications and training courses are relevant to the provision of financial services;

whether a registration of the relevant provider is in force under subsection 921ZC(1);

whether the relevant provider provides, or is to provide, a tax (financial) advice service;

if an instrument of a kind prescribed by regulations made for the purposes of subsection (3) is given to, or made in relation to, the relevant provider—details of the instrument;

if a Financial Services and Credit Panel gives the relevant provider an infringement notice and the relevant provider pays the amount stated in the notice before the end of the payment period for the notice—all of the following:

details of the notice;

a statement that the relevant provider has complied with the notice;

a statement that compliance with the notice is not an admission of guilt or liability;

a statement that the relevant provider is not regarded as having contravened the provision specified in the notice;

any declaration under section 1317E that the relevant provider has contravened a restricted civil penalty provision;

an instrument made by a Financial Services and Credit Panel under subsection 921K(1);

a warning or reprimand given by ASIC under subsection 921S(1);

a warning or reprimand given by a Financial Services and Credit Panel under subsection 921T(1).

state that the person may apply to:

if the notice was given to the person by a Financial Services and Credit Panel—the panel; or

otherwise—ASIC;

for multiple contraventions of a restricted civil penalty provision—12 penalty units multiplied by the number of contraventions.

the panel gave the person a proposed action notice in relation to a proposal to give the infringement notice to the person and either:

no submission or request for a hearing was made within the response period for the notice; or

a submission or request for a hearing was made within the response period for the notice and the panel has considered the submission or held the hearing (as the case may be); or

all of the following apply:

the panel gave the relevant provider a proposed action notice in relation to a proposed instrument under subsection 921K(1) in relation to the person and circumstances mentioned in that subsection;

those circumstances consist of, or include, the contravention;

a submission or request for a hearing was made within the response period for the proposed action notice;

the panel has considered the submission or held the hearing (as the case may be).

the panel, or another Financial Services and Credit Panel, has:

made an instrument under subsection 921K(1) in relation to the person; or

given the person a warning or reprimand;

those circumstances consist of, or include, the contravention.

subsections 1317DAQ(2) to (5);

subsections 1317DAR(2) to (5);

subsections 1317DAS(2) to (5).

subsection 1317DAR(1);

subsection 1317DAS(1).

the last day of the period that, without the withdrawal, would be the payment period for the notice;

the day that is 7 days after the day the person was given notice of the panel’s decision not to withdraw the notice;

the day that is 7 days after the day on which the panel is taken to have refused to withdraw the infringement notice.”.

a person makes representations in relation to the notice under subsection (1); or

ASIC is satisfied that there has been a change in any of the circumstances on the basis of which the notice was given to the person.

decide to withdraw, or refuse to withdraw, the infringement notice; and

give the person a written notice of its decision.

must take into account any written representations seeking the withdrawal that were given by the person to ASIC in accordance with subsection (1); and

may take into account the following:

whether a court has previously imposed a penalty on the person for a contravention of a provision of this Act;

the circumstances of the alleged contravention of the restricted civil penalty provision to which the notice relates;

whether the person has paid an amount, stated in an earlier infringement notice, for a contravention of a provision of this Act;

any other matter the panel considers relevant.

the panel is taken to have refused to withdraw the infringement notice; and

the refusal is taken to have occurred on the last day of the 14 day period.

the panel withdraws the infringement notice; and

the person has already paid all or part of the amount stated in the notice;

require an infringement notice to be given to a person for an alleged contravention of:

a provision subject to an infringement notice under this Part; or

a restricted civil penalty provision; or

affect the liability of a person for an alleged contravention of a provision subject to an infringement notice under this Part, or a restricted civil penalty provision, if:

the person does not comply with an infringement notice given to the person for the contravention; or

an infringement notice is not given to the person for the contravention; or

an infringement notice is given to the person for the contravention and is subsequently withdrawn; or

prevent the giving of 2 or more infringement notices to a person for an alleged contravention of:

a provision subject to an infringement notice under this Part; or

a restricted civil penalty provision; or

limit a court’s discretion to determine the amount of a penalty to be imposed on a person who is found to have contravened:

a provision subject to an infringement notice under this Part; or

a restricted civil penalty provision.

a Financial Services and Credit Panel has given ASIC a notice under subsection 921Q(1) in relation to the alleged contravention; or

both of the following apply:

a Financial Services and Credit Panel has given a person an infringement notice for the alleged contravention;

the person has not paid the amount that is payable under the infringement notice within the payment period for the infringement notice.

if, on 1 January 2022, regulations made for the purposes of paragraph 1684B(a) prescribe a day in relation to the existing provider—that day; or

otherwise—1 January 2022.

meeting the education and training standard in subsection 921B(2), as amended by Schedule 1 to the amending Act; or

completing one or more courses determined by the Minister under subsection 1684E(1) to give the existing provider qualifications equivalent to that standard.

if, on 1 January 2022, regulations made for the purposes of this paragraph prescribe a day in relation to the existing provider—that day; or

otherwise—1 January 2022.

the existing provider is a relevant provider; and

the existing provider has not:

met the education and training standard in subsection 921B(2), as amended by Schedule 1 to the amending Act; or

completed one or more courses determined by the Minister under subsection 1684E(1) to give the existing provider qualifications equivalent to that standard.

the existing provider is a relevant provider; and

the existing provider has not met the education and training standard in subsection 921B(3), as amended by Schedule 1 to the amending Act.

paragraph 921C(1)(a);

paragraphs 921C(2)(a) and (b);

paragraphs 921C(3)(a) and (b);

paragraphs 921C(4)(a) and (b).

met the education and training standard in subsection 921B(2), as amended by Schedule 1 to the amending Act; or

completed one or more courses determined by the Minister under subsection 1684E(1) to give the existing provider qualifications equivalent to that standard.

a reference in them to meeting the education and training standard in subsection 921B(2), as amended by Schedule 1 to the amending Act, were a reference to:

meeting the education and training standard in that subsection; or

completing one or more courses determined by the Minister under subsection 1684E(1) to give the existing provider qualifications equivalent to that standard; and

they did not include a reference to the education and training standard in subsection 921B(4), as amended by Schedule 1 to the amending Act, or a reference to undertaking work and training in accordance with that subsection.

a reference in them to meeting the education and training standard in subsection 921B(2), as amended by Schedule 1 to the amending Act, were a reference to:

meeting the education and training standard in that subsection; or

completing one or more courses determined by the Minister under subsection 1684E(1) to give the existing provider qualifications equivalent to that standard; and

they did not include a reference to the education and training standard in subsection 921B(4), as amended by Schedule 1 to the amending Act, or a reference to undertaking work and training in accordance with that subsection.

paragraph 1684A(2)(b);

subparagraph 1684C(3)(b)(ii);

paragraph 1684D(3)(b);

subparagraphs 1684D(4)(a)(ii) and (6)(a)(ii).

was made under subsection 1546B(7), as in force immediately before 1 January 2022; and

was in force immediately before that day;

was made under subparagraph 921U(2)(a)(i), (iii) or (iv), as in force immediately before 1 January 2022; and

was in force immediately before that day;

was made under subparagraph 921U(2)(a)(v), as in force immediately before 1 January 2022; and

was in force immediately before that day;

was made under paragraph 921U(2)(b), as in force immediately before 1 January 2022; and

was in force immediately before that day;

was made under subsection 921V(1), as in force immediately before 1 January 2022; and

had not been finally determined at the start of that day;

was given under paragraph 921V(3)(a), as in force immediately before 1 January 2022; and

was in force immediately before that day;

for the purposes of approving a foreign qualification for a person, one or more courses were specified for the person under subsection 921V(5), as in force immediately before 1 January 2022; and

immediately before that day, the person had not completed all of those courses;

an order under 1 January 2022; orsection 30-20 of the old Tax Agent Services Act that is in force against the relevant provider immediately before

an order made on or after that day against the relevant provider, in relation to an act or omission before that day, under section 30-20 of the old Tax Agent Services Act.

give the relevant provider a warning or reprimand;

make an instrument of a kind specified in subsection 921L(1), as inserted by Schedule 1 to the amending Act, in relation to the relevant provider.

no Financial Services and Credit Panel has taken action against the relevant provider under subsection (2); and

ASIC has not made an order against the relevant provider under subsection (3);

the person is a relevant provider; and

immediately before 1 January 2022, the person was a registered tax (financial) adviser; and

(c) the person’s registration (the old registration) as a registered tax (financial) adviser continues, or is, in force on and after that day because of item 139 or 140 of Schedule 1 to the amending Act.

the person were registered under subsection 921ZC(1), as inserted by Schedule 1 to the amending Act, because of an application in accordance with:

if the relevant provider is a financial services licensee—section 921ZA, as inserted by Schedule 1 to the amending Act; or

if the relevant provider is not a financial services licensee—section 921ZB, as inserted by Schedule 1 to the amending Act; and

the person’s registration under subsection 921ZC(1), as inserted by Schedule 1 to the amending Act, came into force on the application day for the person.

if the person’s old registration continues in force because of item 139 of Schedule 1 to the amending Act—1 January 2022; or

if the person’s old registration is in force because of item 140 of Schedule 1 to the amending Act—the day the old registration comes into force under that item.

was in the possession of a director or employee of the standards body immediately before that day; and

relates to the functions of the standards body (other than the exam function);

was in the possession of a director or employee of the standards body immediately before that day; and

relates to the exam function of the standards body;

either:

ASIC has not delegated its power to make the banning order to a Financial Services and Credit Panel; or

ASIC exercises its power to make the banning order despite such a delegation; and

subsection (6) or (6A) applies.

ASIC’s grounds for making a banning order against a person include that ASIC has suspended or cancelled a licence of the person (see paragraph (1)(a)); and

the suspension or cancellation took place without a hearing under section 54.

ASIC’s grounds for making a banning order against a person include that the person has been convicted of fraud (see paragraph (1)(c)); and

the person has been convicted of serious fraud.

either:

you provide a service that you know, or ought reasonably to know, is a *tax (financial) advice service; or

a service that you know, or ought reasonably to know, is a tax (financial) advice service is provided on your behalf by another person; and

the tax (financial) advice service is not a *BAS service; and

either:

you charge or receive a fee or other reward for providing the tax (financial) advice service; or

the other person charges or receives a fee or other reward for providing the tax (financial) advice service on your behalf; and

you are not a *registered tax agent or a *qualified tax relevant provider; and

in the case of the tax (financial) advice service provided on your behalf by another person—that other person is not a registered tax agent or a qualified tax relevant provider; and

in the case of you providing the tax (financial) advice service as a legal service—you are prohibited, under a *State law or *Territory law that regulates legal practice and the provision of legal services, from providing that tax (financial) advice service.

for an individual—250 penalty units; and

for a body corporate—1,250 penalty units.

you advertise that:

you will provide a *tax (financial) advice service; or

another person will provide a tax (financial) advice service on your behalf; and

the tax (financial) advice service is not a *BAS service; and

you are not a *registered tax agent or a *qualified tax relevant provider; and

if the tax (financial) advice service would be provided on your behalf by another person—that other person is not a registered tax agent or a qualified tax relevant provider; and

if the tax (financial) advice service would be provided as a legal service—you are prohibited, under a *State law or *Territory law that regulates legal practice and the provision of legal services, from providing that tax (financial) advice service.

for an individual—50 penalty units; and

for a body corporate—250 penalty units.

if the decision or finding concerns a *registered tax agent in relation to providing a *tax (financial) advice service—*ASIC; and

(a) definition of Code of Ethics;

(b) definition of compliance scheme;

(c) definition of covers.

(a) definition of registered tax agent, BAS agent or tax (financial) adviser;

(b) definition of registered tax agents, BAS agents and tax (financial) advisers;

(c) definition of registered tax (financial) adviser.

section 20-1;

subsections 20-5(1), (2) and (3);

subsection 20-20(1);

paragraph 20-25(7)(a);

subsection 20-40(1);

section 20-45;

section 30-1;

section 30-5;

subsection 30-10(5);

paragraph 30-20(1)(b);

subsection 30-25(4);

subsections 30-35(1), (2) and (3);

subsection 40-5(1);

subsection 40-10(1);

subsection 40-15(1);

paragraph 50-15(a);

subparagraph 50-25(1)(c)(i);

paragraph 60-135(1)(b);

subsection 60-135(3);

section 60-140.

do an act; or

omit to perform an act.

a person is a relevant provider; and

immediately before 1 January 2022:

the person was a registered tax (financial) adviser under the old Act; and

(ii) the person’s registration (the old registration) as a registered tax (financial) adviser was due to expire at the end of a period (the old registration period) that ends on or after that day; and

item 140 of this Schedule does not apply to the person.

the old Act continues to apply in relation to the old registration on and after 1 January 2022 as if those amendments had not been made; and

the old registration continues in force on and after 1 January 2022 until the end of the old registration period, unless terminated before the end of that period.

a person is a relevant provider; and

before 1 January 2022, the person made an application:

under section 20-20 of the old Act for registration as a registered tax (financial) adviser; or

under section 20-50 of the old Act for renewal of the person’s registration as a registered tax (financial) adviser; and

immediately before 1 January 2022, the application had not been finally determined.

the old Act continues to apply, on and after 1 January 2022, in relation to the application, as if those amendments had not been made; and

if the application is granted:

the old Act continues to apply to the registration, or the renewed registration, on and after the day the application is granted as if those amendments had not been made; and

the registration, or the renewed registration, is in force on and after 1 January 2022 for the period determined under subsection 20-25(4) of the old Act in relation to the application, unless terminated before the end of that period.

a person’s registration as a registered tax (financial) adviser continues or is in force because of item 139 or 140 of this Schedule; and

(b) that registration is suspended for a period (the suspension period) under subsection 30-25(1) of the old Act as it continues to apply to the registration under those items.

the Registrar; and

the Registrar;

meet any requirements of the data standards; and

meet any requirements of the data standards; and

the application is made in accordance with section 921ZA; and

the Registrar registers the relevant provider under subsection (1);

the application is made in accordance with section 921ZB; and

the Registrar registers the relevant provider under subsection (1) of this section;

the relevant provider; and

the applicant.