Corporations Regulations 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
PART 7.1
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PRELIMINARY
Division 3
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When does a person provide a financial service?
REGULATION 7.1.33G
7.1.33G
CERTAIN GENERAL ADVICE THAT DOES NOT ATTRACT REMUNERATION ETC.
For subsection 766A(2) of the Act, a person (the advisor ) is taken not to provide a financial service if:
(a) the advisor gives advice to another person; and
(b) the advice:
(c) the advice:
(d) by giving the advice neither the advisor, nor an associate of the advisor, receives any remuneration (including commission) or other benefit that is related to the advice given apart from remuneration (including commission) or other benefit that the advisor or the associate would have received if the advice was not given.
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 subsection 766A(2) of the Act, a person (the advisor ) is taken not to provide a financial service if:
(a) the advisor gives advice to another person; and
(b) the advice:
(i) is not about a particular financial product or an interest in a particular financial product; and
(ii) is not personal advice; and
(c) the advice:
(i) is not intended to influence the other person in making a decision in relation to a particular financial product or an interest in a particular financial product; or
(ii) could not reasonably be regarded as being intended to have such an influence; and
(d) by giving the advice neither the advisor, nor an associate of the advisor, receives any remuneration (including commission) or other benefit that is related to the advice given apart from remuneration (including commission) or other benefit that the advisor or the associate would have received if the advice was not given.
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