Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.7A - BEST INTERESTS OBLIGATIONS AND REMUNERATION  

Division 5 - Other banned remuneration  

Subdivision A - Volume-based shelf-space fees  

SECTION 964   APPLICATION  

964(1)    
This Subdivision applies if:

(a) a financial services licensee or an RSE licensee (the platform operator ) is, or offers to be, the provider of a custodial arrangement; and

(b) a monetary or non-monetary benefit is given, or to be given, by a financial services licensee, RSE licensee or the operator of a notified foreign passport fund (the funds manager ) to the platform operator; and

(c) a financial product to which the custodial arrangement relates is a financial product in which the funds manager deals (the funds manager ' s financial product ).

964(2)    
In this Subdivision:

custodial arrangement
has the same meaning as it has in subsection 1012IA(1) , subject to subsection (3).

provider
has the same meaning as in subsection 1012IA(1) .

964(3)    

The definition of custodial arrangement in subsection 1012IA(1) is to be read as if the reference in that definition to an instruction included a reference to:

(a) a direction of the kind mentioned in paragraph 58(2)(d) or (da) of the Superannuation Industry (Supervision) Act 1993 that will involve the acquisition of a particular financial product, or a financial product of a particular kind; and

(b) a direction of the kind mentioned in subsection 52B(4) of the Superannuation Industry (Supervision) Act 1993 that will involve the acquisition of a particular financial product, or a financial product of a particular kind.

964(4)    
A reference to a kind of financial product in subsection (3) has the same meaning in that subsection as it has in the definition of custodial arrangement in subsection 1012IA(1) .