Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 910A

    In this Act:

"body corporate licensee" means a body corporate that:

  (a)   is a financial services licensee; and

  (b)   is authorised to provide personal advice to retail clients in relation to relevant financial products.

"class of product advice" means financial product advice about a class of products, but does not include a recommendation about a specific product in the class.

"CPD year" (short for continuing professional development year): a financial services licensee's CPD year is the 12 - month period beginning on the day of the year included in the most recent notice given by the licensee under section   922HA.

"foreign qualification" means a bachelor or higher degree, or equivalent qualification, awarded by a tertiary education institution outside Australia.

"limited" - service time - sharing adviser : a person is a limited - service time - sharing adviser if:

  (a)   the person is a relevant provider; and

  (b)   the only relevant financial product that the person provides advice in relation to is a time - sharing scheme; and

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

"qualified tax relevant provider" : a person is a qualified tax relevant provider if:

  (a)   the person is a relevant provider; and

  (b)   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.

"relevant financial products" means financial products other than:

  (a)   basic banking products; or

  (b)   general insurance products; or

  (c)   consumer credit insurance; or

  (d)   a combination of any of those products.

"relevant provider" : a person is a relevant provider if the person:

  (a)   is an individual; and

  (b)   is:

  (i)   a financial services licensee; or

  (ii)   an authorised representative of a financial services licensee; or

  (iii)   an employee or director of a financial services licensee; or

  (iv)   an employee or director of a related body corporate of a financial services licensee; and

  (c)   is authorised to provide personal advice to retail clients, as the licensee or on behalf of the licensee, in relation to relevant financial products.