Corporations Amendment Regulations 2003 (No. 8) (282 of 2003)

Schedule 1   Amendments commencing on gazettal

[2]   After regulation 7.1.33D

insert in Division 3

7.1.33E Advice about the existence of a custodial or depository service

For paragraph 766A (2) (b) of the Act, a person is taken not to provide a financial service if:

(a) the person provides advice about a custodial or depository service; and

(b) the advice is not about a financial product; and

(c) the advice is not intended to influence, and could not reasonably be regarded as being intended to influence, a decision about a financial product other than a product that is a financial product only because it is an equitable right or interest in:

(i) a share in a body; or

(ii) a debenture of a body; or

(iii) an interest in a registered scheme.

Note Paragraph (c) describes financial products under paragraph (c) of the definition of security in section 761A of the Act and financial products under subparagraph 764A (1) (b) (ii) of the Act.