Section 135

applications for the grant of financial adviser’s licences, and matters incidental thereto;

the appointment of an individual as an appointed or provisional representative, the entering of his or her name or an additional type of financial advisory service for him or her in the public register of representatives, and the revocation or suspension of his or her status as an appointed or provisional representative;

specifying, in the context of the granting of an unsecured advance, unsecured loan or unsecured credit facility by a licensed financial adviser to any officer, employee or representative of the licensed financial adviser, or any person related, in the manner prescribed by the regulations, to any such officer, employee or representative —

what constitutes any such unsecured advance, unsecured loan or unsecured credit facility; and

the requirements and restrictions relating to any such grant;

the activities of, and standards to be maintained by, a licensed financial adviser, exempt financial adviser or representative, including the manner, method and place of soliciting business and the conduct of such solicitation;

the particulars to be recorded in, or in respect of, books kept by any licensed financial adviser;

the remuneration of an auditor appointed under this Act and the costs of an audit carried out under this Act;

the manner in which a licensed financial adviser, exempt financial adviser or representative conducts his or her dealings with the clients of the licensed financial adviser or exempt financial adviser, as the case may be;

the purchase or sale of investment products directly or indirectly by licensed financial advisers and their appointed or provisional representatives for their own account;

the disclosure by a licensed financial adviser, exempt financial adviser or representative of any material interest that he or she may have in a proposed transaction relating to purchasing, subscribing for or trading in capital markets products;

the forms for the purposes of this Act;

the fees to be paid in respect of any matter or thing required for the purposes of this Act, and the refund and remission, whether in whole or in part, of such fees;

the collection, from any licensed financial adviser or exempt financial adviser, by or on behalf of the Authority at such intervals or on such occasions as may be prescribed, of statistical information as to such matters relevant to investment products as may be prescribed, and for the collection and use of such information for any purpose, whether or not connected with the prescribed investment products;

the maintenance by a proprietor or publisher of a newspaper of the particulars of any financial journalist who has contributed any advice, analysis or report concerning any specified products, that has been published in the newspaper, and the provision of such particulars to the Authority;

the maintenance by a licensed financial adviser, representative of a licensed financial adviser and applicant for a financial adviser’s licence of registers of their interests in specified products and their duties relating to the registers, and matters relating thereto; and

all matters and things which are required or permitted to be prescribed by this Act, or which may be necessary or expedient to be prescribed to give effect to this Act.

may be of general or specific application;

may contain provisions of a saving or transitional nature;

may provide that a contravention of any specified provision thereof shall be an offence; and

may provide for penalties not exceeding a fine of $50,000 or imprisonment for a term not exceeding 12 months or both for each offence and, in the case of a continuing offence, a further penalty not exceeding a fine of 10% of the maximum fine prescribed for that offence for every day or part of a day during which the offence continues after conviction.

that his or her contravention was due to his or her not being aware of a fact or occurrence, the existence of which was necessary to constitute the offence; and

that —

he or she was not so aware on the date of the summons issued for the charge; or

he or she became so aware before the date of the summons and complied with the regulation within 14 days after becoming so aware.