Securities and Futures Act 2001 · 2020 Revised Edition · Part 4 · Holders of Capital Markets Services Licence and Representatives
99J. Representative to act for only one principal
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Unless otherwise approved by the Authority in writing, no appointed representative, temporary representative or provisional representative may at any one time be a representative of more than one principal.
Despite subsection (1), an appointed representative may be a representative of more than one principal if the principals are related corporations.
appointed representative
“appointed representative”, in respect of a type of regulated activity, has the meaning given by section 99D, and “appointed representative” means an appointed representative in respect of any type of regulated activity;
The Authority may require an applicant for approval under subsection (1) to provide it with such information or documents as the Authority considers necessary in relation to the application.
Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 12 months or to both and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part of a day during which the offence continues after conviction.