10.PPS Australian Credit Licence – Debt Management Services
There are no prohibitions on a Member who is providing Advisory Services, proposes
to provide Advisory Services, or who has previously provided Advisory Services to a
- acquiring equity in that Client, or
- purchasing assets of that Client.
However, in such a situation, the Member must not advise the Client in respect of that transaction and must, in writing, advise the Client that:
- they should obtain their own independent advice in respect of the transaction, and
- the Member will not be able to act on the Client’s behalf in respect of the transaction.
For the purposes of this section of the Standard, Member extends to the Member’sFirm, Partners and Related Entities.