Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A relevant provider must meet the education and training standard in subsection 921B(2).
(2) A relevant provider must meet the education and training standard in subsection 921B(3).
(3) A relevant provider must either:
(a) meet the education and training standard in subsection 921B(4); or
(b) be undertaking work and training in accordance with that subsection.
Continuing professional development
(4) A relevant provider must comply with subsection 921B(5):
(a) in the case of a relevant provider who is a financial services licensee--during the licensee's CPD year; or
(b) 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.
Note: Section 922HB requires a notice to be given at the end of a financial services licensee's CPD year if a relevant provider has not complied with this subsection during that year.
Civil liability
(5) A person contravenes this subsection if the person contravenes subsection (1), (2), (3) or (4).
Note 1: This subsection is a restricted civil penalty provision (see sections 921Q and 1317E).
Note 2: ASIC or a Financial Services and Credit Panel may take certain other action against a relevant provider who contravenes subsection (1), (2), (3) or (4) (see Division 8B).
Note 3: Exemptions apply in relation to certain relevant providers (see
section 921BC).