Licensing and disclosure: Making the transition to the FSR regime

Key terms
In this guide:
LICENSING AND DISCLOSURE: MAKING THE TRANSITION TO THE FSR REGIME
“AFS licence” means an Australian financial services licence under
s913B that authorises a person who carries out a financial services
business to provide financial services;
Note: This is a definition contained in s761A of the FSR Act.
“APRA” means the Australian Prudential Regulation Authority;
“ASIC” means the Australian Securities and Investments Commission;
“authorised representative” of a licensee means a person authorised by
the licensee, in accordance with s916A or 916B to provide a financial
service or services on behalf of the licensee;
Note: This is a definition contained in s761A of the FSR Act.
“Corporations Act” means the Corporations Act 2001 and includes
regulations made for the purposes of the Act;
“current financial service provider” means a person as defined in
paragraph 1.1.2 of this guide;
“financial product” has the meaning given in Division 3 of Part 7.1 of the
FSR Act;
Note: This is a definition contained in s761A of the FSR Act.
“financial services guide” means a financial services guide required by
s941A or 941B to be given in accordance with Division 2 of Part 7.7 of
the FSR Act;
Note: This is a definition contained in s761A of the FSR Act.
“FSR Act” means the Financial Services Reform Act 2001 or the
Corporations Act 2001 as amended by the FSR Act, as applicable, and
includes regulations made for the purposes of the FSR Act;
Note: The provisions contained in Schedule 1 to the FSR Act will form part of the
Corporations Act from 11 March 2002. Schedule 1 contains the financial services
licensing provisions under Parts 7.6–7.8 and the financial product disclosure
provisions under Part 7.9.
Australian Securities and Investments Commission — October 2001
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