Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteCCH note - modifying legislative instruments: The application of Pt 7.8 is affected by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669 (Div 8 only) (as amended by ASIC Corporations (Amendment) Instrument 2024/554).
For legislative instruments or class orders before 1 January 2022 that affect the application of Pt 7.8, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
CCH Note: Division 4 is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
CCH Note: Section 985C is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716.
The regulations may impose requirements to be complied with by a financial services licensee in relation to, or make other provision dealing with, a situation specified in subsection (2) that arises in relation to a contract or proposed contract of insurance under which the licensee is not the insurer.
985C(2)
The situations are as follows: (a) the licensee receives an amount as a premium or instalment of premium; (b) the licensee does not receive an amount as a premium or instalment of premium by a particular time; (c) the licensee is not aware of the amount of a premium or instalment of premium that is to be paid; (d) the licensee receives money from the insured or intending insured but the risk or part of the risk has not been accepted by a particular time; (e) the licensee receives money from the insurer for payment to or on behalf of the insured.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.