Agreement · Financial Services Regulation
Authorised representative agreement and written authorisation (AFS licensee)
An agreement between an Australian financial services licensee and an authorised representative, with the s 916A written authorisation as a schedule: authorised services within the licence, conduct and compliance obligations, monitoring, AI tool rules, fees, ASIC notification and revocation.
- Kind
- Agreement. A contract between two or more parties.
- Where it applies
- Australia
- AI use
- Yellow AI can help in set ways. A lawyer checks specific points before use.
- Law stated as at
- 18 October 2026
- Status
- Maintained. Checked on 18 October 2026 against the 2 authorities it cites, for Australia.
- Version
- 1
- Source
- Written for this library
When to use it
Use when a licensee appoints a corporate or individual authorised representative to provide financial services on its behalf, or re-papers an existing appointment. Check the licence authorisations first; an authorisation that goes beyond them is void to that extent.
How AI may be used
AI may fill the agreement and authorisation from the licence and the representative’s details and check the authorised services against the licence conditions, but compliance settles the scope of authority and confirms the representative’s fitness before signing.
AI may
- Fill the parties, ABNs, licence number and authorised services into the agreement and Schedule 1 from the licence and onboarding file
- Compare the services in Schedule 1 with the licence authorisations and list anything not covered
- Prepare the ASIC notification checklist and diary the 30-business-day lodgement date
AI must not
- Must not authorise a service, product class or client type that the licence does not cover
- Must not assess the representative’s fitness, qualifications or registration status as a relevant provider; those checks are done by compliance from source records
- Must not lodge the ASIC notice or sign the authorisation
The lawyer checks
- Schedule 1 authorises only financial services covered by the licence and is not contrary to any banning or disqualification order (s 916A(3))
- For individuals giving personal advice to retail clients, the s 921C requirements are met before authorisation
- Monitoring, record access, complaints and breach reporting obligations give the licensee the control it needs to meet its own obligations for its representatives
- The ASIC notification is lodged within 30 business days (s 916F) and the representative register is updated
Method: how the Green, Yellow and Red levels are decided. This is guidance for planning, not legal advice.
Read the full text
The full text is for signed-in accounts. It is free. When you sign in you can:
- read the whole precedent, with its drafting notes beside it;
- copy it, or download it as a Word file or Markdown;
- add it to your firm’s knowledge base, so colleagues can find it;
- let the AI tools you connect read it from that knowledge base.
The summary, the law it rests on and the AI-use guidance above stay public. Privacy.
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All precedents for Financial Services Regulation · Tasks and AI use in this area