Home › Forums › Australian Financial Services Licensing (AFSL) Forum › Authorised Representative – Multiple CARs › Reply To: Authorised Representative – Multiple CARs
Thanks for your question.
By way of general discussion, an individual is issued with an authorised representative (AR) number which attaches to that person for life. It is not possible for a person to have more than one number assigned to them. The authority which governs what an authorised representative can do on behalf of a licensee may be specified through an AR agreement. It may be possible to draft this agreement to provide for differing duties, depending on the situation.
The AR cannot perform financial services that its licensee is not authorised to perform or that its licensee has not authorised the AR to do. Where two separate CARs have the same director, it may be possible for that director to carry out different authorised financial services, as they relate to the separate CARs. Appropriate written documentation and agreements may be required in order for this to be effectively achieved.
Given the nature of this forum and the limited information available we are unable to give you any specific or tailored advice. We would however suggest that you seek legal advice in order to discuss the matter in the required detail.
Author: Michelle Chasser
Co-contributor: Georgia Dixon