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.]
Modifying legislative instruments: The application of Pt 7.9 is affected by the ASIC Corporations (Disclosure of Fees and Costs) Instrument 2019/1070.
For other legislative instruments or class orders before 1 January 2022 that affect the application of Pt 7.9, 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.
(a) money is paid to acquire an insurance product (the new product ); and
(b) the product provider issues another product (the other product ) which is the same as the new product except for the date on which it ceases to have effect; and
(c) the product provider has not issued the new product.
For paragraph 1017E(3) (d) of the Act, the situation mentioned in subregulation (1) is a situation in which money may be taken out of an account mentioned in section 1017E .
For paragraph 1017E(4) (c) of the Act, the product provider must, after taking the money out of the account:
(a) issue the new product before the date on which the other product ceases to have effect; or
(b) return the money to the person by whom it was paid before the date on which the other product ceases to have effect.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.