Corporations Amendment (Design and Distribution Obligations - Income Management Regimes) Regulations 2023 (F2023L00193)

Schedule 1   Amendments

Part 1   Income Management Regimes

Corporations Regulations 2001

1   At the end of regulation 7.8A.20

Add:

Income management regimes

(10) This subregulation covers a financial product that is:

(a) a BasicsCard bank account (within the meaning of Part 3AA of the Social Security (Administration) Act 1999); or

(b) a debit card that is attached to an account referred to in paragraph (a); or

(c) an income management account (within the meaning of Part 3B of that Act); or

(d) either:

(i) a stored value card (within the meaning of Part 3B of that Act); or

(ii) a voucher given under subsection 123YC(2) or 123YD(2) of that Act;

that relates to an account referred to in paragraph (c).