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CORPORATIONS ACT 2001 - SECT 922HB Obligation to notify ASIC of non - compliance with CPD provisions

CORPORATIONS ACT 2001 - SECT 922HB

Obligation to notify ASIC of non - compliance with CPD provisions

  (1)   A notice must be lodged under this section, in accordance with section   922L, in relation to a person if, at the end of a financial services licensee's CPD year:

  (a)   the person:

  (i)   is the licensee; or

  (ii)   is authorised to provide personal advice to retail clients, on behalf of the licensee, in relation to relevant financial products; and

  (b)   the person is a relevant provider; and

  (c)   during the licensee's CPD year:

  (i)   a CPD provision applied to the relevant provider; and

  (ii)   the relevant provider did not comply with that provision.

Note:   A financial services licensee may obtain information from a relevant provider under section   922N for the purposes of determining whether to lodge a notice under this section.

  (2)   The notice must state which of the CPD provisions the relevant provider did not comply with during the licensee's CPD year.

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