Clause 19

by deleting subsection (1) and substituting with the following subsection:“(1) The Authority may, if it thinks necessary or expedient in the public interest, issue written directions, either of a general or specific nature, to —

any licensee;

any person exempt under section 23 or 100; (c)any representative of a person exempt under section 23 or 100; or

any class of the persons referred to in paragraphs (a), (b) or (c),to comply with such requirements as the Authority may specify in the written directions, or for any other purpose.”; (b)by deleting the word “; or” at the end of subsection (2)(a)(i) and substituting the words “, including the duties to be undertaken when making recommendations to clients in respect of investment products;”; and

by inserting, immediately after sub-paragraph (ii) of subsection (2)(a), the following sub-paragraphs:“(iii)the qualifications, experience and training of representatives; or

the procedure for the conduct of disciplinary control of licensees, exempt financial advisers and their representatives;”.