Section 921M — Corporations Act 2001: Copy of instrument to be given to affected person etc.

(1) If, under subsection 921K(1), a Financial Services and Credit Panel makes an instrument in relation to a person (the affected person), the panel must: (a) give a copy of the instrument to the affected person; and (b) at the same time, give a copy of the instrument to: (i) ASIC; and (ii) if the affected person is authorised to provide personal advice to retail clients, on behalf of a financial services licensee, in relation to relevant financial products—the licensee; and (c) at the same time, give the affected person a written notice informing the affected person of their right to make an application under subsection 921N(3) in relation to the instrument. Note: ASIC must enter details of certain instruments in the Register of Relevant Providers (see paragraph 922Q(2)(uc)). (2) A copy of an instrument given to a person under paragraph (1)(a) or (b) must be accompanied by a statement of reasons for the decision to make the instrument. (3) A failure to comply with subsection (1) or (2) in relation to an instrument does not affect the validity of the instrument.