Who Can Be An Authorised Representative?

How many days does an Australian Credit Licensee have in which to notify ASIC of a credit representative’s appointment?

You must notify us within 30 business days..

Who can be an Authorised representative of a company?

Clause (a) of sub-section (1) of section 113 provides that where a body corporate is a member of a company, such body corporate may authorize any person it thinks fit to act as its representative at any meeting of the company or at any meeting of any class of members of the company.

What is corporate Authorised representative?

A company can be an Authorised Representative (referred to as a Corporate Authorised Representative) and can sub-authorise individuals to operate under the Licence holders license, if it has the consent of the Licensee to do so.

What is an AFS representative?

An Australian financial services (AFS) licensee may appoint ‘authorised representatives’ to provide specified financial services on its behalf. These authorised representatives may be, individuals, bodies corporate, … a group of individuals and/or bodies corporate that are the trustees of a trust.

Can an Authorised representative appoint a proxy?

The person who has been authorised by the creditor company to attend a meeting of debtor company, he need not hold proxy on behalf of the creditor company and he himself can nominate a representative to vote by proxy. Any person whether he is member or not can be appointed as a proxy.

Who needs an AFS Licence?

The law says that you need an Australian Financial Services Licence (AFSL) if you are a “person” who carries on a “financial services” business in this jurisdiction.

How do you get an Afsl Licence?

The best way to apply for an AFS licence is online using our eLicensing system, which individually tailors the application to your business. You can start your application, save it as a draft and resume it as many times as you like before you finalise and submit it to us.

How do I get a financial services Licence in Australia?

To be eligible for this licence you must:meet approved qualification and competency standards and/or have practical experience.have sufficient financial resources to carry on the proposed business.be able to meet certain obligations as an AFS licensee such as training, compliance, insurance and dispute resolution.

What is the difference between a proxy and a representative?

is that representative is one who may speak for another in a particular capacity, especially in negotiation while proxy is an agent or substitute authorized to act for another person or proxy can be (gaming|slang) a proximity mine; a mine that explodes when something approaches within a certain distance.

How much does an AFS Licence cost?

Obtaining and Maintaining ASIC’s new fee-for-service model commenced on 1 July 2018. The application fee for an online application by a company ranges from $3,721 for financial planner through to $,7,537 for a responsible entity or market maker.

WHO issues Australian financial services Licence?

The AFSL is issued by ASIC under Chapter 7 (section 911A) of the Corporations Act 2001, in line with its regulatory supervision of the financial services industry.

What is an Australian financial services AFS licensee licensed to carry out?

Regulatory guide one gives practical guidance to applicants for an Australian financial services licence (AFS licence). An AFS licence authorises you and your representatives to provide financial services to clients. Without an AFS licence, you generally can’t carry on a financial services business.