Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) One person can be the authorised representative of 2 or more financial services licensees, but only if:
(a) each of those licensees has consented to the person also being the authorised representative of each of the other licensees; or
(b) each of those licensees is a related body corporate of each of the other licensees; or
(c) the only financial services provided by the person as authorised representative of any financial services licensee are claims handling and settling services.
(2) A purported authorisation given in breach of this requirement is void.
(3) A person must not give a purported authorisation if that purported authorisation is in breach of this requirement.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).