Licensing and disclosure: Making the transition to the FSR regime

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LICENSING AND DISCLOSURE: MAKING THE TRANSITION TO THE FSR REGIME (d) any other person acting on behalf of the licensee; Note: This is a definition contained in s910A of the FSR Act. “s912A”, for example, refers to a provision of the Corporations Act after FSR commencement, unless a contrary intention appears; “transition period” means the relevant transition period as described in this guide at: (a) paragraph 1.1.1 (in general, for a current financial services provider); (b) paragraph 1.1.8 (in general, for representatives); (c) paragraph 1.5.2 (for insurance agents); and (d) paragraph 2.1.1 (for existing financial products); “transitional provisions” means Part 10.2 of the Corporations Act, as amended by the Financial Services Reform (Consequential Provisions) Act 2001 and includes regulations made for the purposes of that Part; “2-year transitional period” means a period of 2 years starting from FSR commencement (ie from 11 March 2002 to 11 March 2004). Australian Securities and Investments Commission — October 2001 Page 62
Related papers LICENSING AND DISCLOSURE: MAKING THE TRANSITION TO THE FSR REGIME This guide is one of a set of two publications issued together in October 2001 on the implementation of the Financial Services Reform Act 2001. As outlined in our paper Building the FSRB Administrative Framework, we issued an earlier set of policy proposal papers in April, June and September 2001. We plan to issue further publications in the coming months related to the implementation of the FSR Act — see our September 2001 Supplement to the April 2001 Framework document. The publications issued together in October are: Licensing and disclosure: Making the transition to the FSR regime — An ASIC guide Process guideline How do you get an Australian financial services (AFS) licence? (Release 2.0) The related documents issued together in April are: Building the FSRB Administrative Framework — Policy to implement the Financial Services Reform Bill 2001 (April 2001 Framework document) Licensing: The scope of the licensing regime: Financial product advice and dealing FSRB Policy Proposal Paper No 1 Licensing: Organisational capacities FSRB Policy Proposal Paper No 2 Licensing: Adapting IPS 146 to the Financial Services Reform regime FSRB Policy Proposal Paper No 3 Disclosure: Product Disclosure Statements (and other disclosure obligations) FSRB Policy Proposal Paper No 4 Disclosure: Discretionary powers and transition FSRB Policy Proposal Paper No 5 Process guideline How do you get an AFS licence? (Release 1.0) Australian Securities and Investments Commission — October 2001 Page 63
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CONSULTATION PAPER 26 Licensing and
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Contents LICENSING AND DISCLOSURE:
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LICENSING AND DISCLOSURE: MAKING TH
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Product disclosure LICENSING AND DI
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Your comments LICENSING AND DISCLOS
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Page 13 and 14: Our message: apply early LICENSING
Page 15 and 16: Example A LICENSING AND DISCLOSURE:
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Licensing and disclosure: Making the transition to the FSR regime

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