Corporations Regulations 2001
View history note
Hide history note[ CCH Note: Pursuant to the Corporations Amendment Regulations 2001 (No 4) (SR 2001 No 319) effective 11 March 2002, Chapter 7 (Securities) comprising reg 7.1.01 - 7.15.01 and Chapter 8 (The futures industry) comprising reg 8.1.01 - 8.7.03 are replaced by a new Chapter 7 (Financial services and markets) comprising reg 7.1.01 - 7.12.01. As the subject matter of the new Chapter 7 relates to the new financial services reform regime, " inserted " has been used in the history notes for each provision, and all references to the former provisions have been removed.]
For paragraph 766A(2) (b) of the Act, this regulation applies in relation to the provision of a service by a person to another person in the following circumstances:
(a) the service consists only of general advice in relation to a financial product or class of financial products;
(b) the advice is prepared by a product issuer of the financial product or class of financial products who is not a financial services licensee;
(c) the advice is provided by a financial services licensee whose financial services licence covers the provision of the advice.
The product issuer is taken not to provide a financial service within the meaning of paragraph 766A(1) (a) of the Act.
The financial services licensee is taken to provide a financial service within the meaning of paragraph 766A(1) (a) of the Act.
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