A deeper look at the AFS licence application process

A deeper look at the AFS licence application process

Financial Services
As we noted in our previous article there are five parts to form FS01. Below we describe these in more detail. Part A of the application requires you to provide details of the applicant as well as details of the person who will serve as a contact for the applicant during the application process. In part A you will also be asked questions about the financial services and products you would like to be authorised to provide and how your proposed business will operate. ASIC makes various references to the Corporations Act 2001. As noted in our previous article, applicants should ensure that they understand the applicable provisions of the Corporations Act and understand the controls that they will implement to ensure compliance. Who can apply for an AFS licence…
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Embedded Network Conversion- Retail Exemption Requirements

Embedded Network Conversion- Retail Exemption Requirements

AU Energy Compliance
Requirements relating to retail exemptions for the sale of electricity within embedded networks are set out in the AER Exempt Seller Guideline. Under the National Energy Retail Law any person or business who sells energy to another person for use at a premises must have either obtained a retail authorisation or operate under a retail exemption. The AER notes that where energy selling is your main business, you are selling to a number of customers or selling in a number of states or territories, you will probably need a retail authorisation. The exempt seller regime was designed for small-scale selling activities i.e. between related entities or at a specific site. The AER notes that energy sales do not necessarily have to be for-profit in that even passing energy on at…
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