Financial Service Providers (Registration and Dispute Resolution) Act 2008

49A Who are eligible investors


A client is an eligible investor if—


the client certifies in writing that the client understands that, as a consequence of certifying himself, herself, or itself to be an eligible investor, the financial service provider may not be a member of an approved dispute resolution scheme; and


the client states the reasons for this certification; and


a financial service provider signs a written acceptance of the certification in accordance with section 49B.


A certification may be specific to a particular service or class of services or may be general (but is effective only in relation to services provided after all of the requirements of subsection (1)(a) to (c) are met).

Section 49A: inserted, on 1 July 2010, by section 27 of the Financial Service Providers (Registration and Dispute Resolution) Amendment Act 2010 (2010 No 41).