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 7.1.31
7.1.31
PASSING ON PREPARED DOCUMENTS
For paragraph 766A(2)(b) of the Act, a circumstance in which a person ( person 1 ) is taken not to provide a financial service within the meaning of paragraph 766A(1)(a) of the Act is that:
(a) person 1 provides a service to a person; and
(b) the service consists only of passing on, publishing, distributing or otherwise disseminating a document that contains financial product advice; and
(c) the document was provided by another person ( person 2 ); and
(d) person 2 is not acting on behalf of person 1; and
(e) person 1 is not the holder of a financial services licence that authorises person 1 to provide financial product advice; and
(f) person 1 does not select the content of the document, modify the content of the document or otherwise exercise control over the content of the document; and
(g) a reasonable person would not consider that person 1 provided, endorsed or otherwise assumed responsibility for the financial product advice contained in the document.
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, a circumstance in which a person ( person 1 ) is taken not to provide a financial service within the meaning of paragraph 766A(1)(a) of the Act is that:
(a) person 1 provides a service to a person; and
(b) the service consists only of passing on, publishing, distributing or otherwise disseminating a document that contains financial product advice; and
(c) the document was provided by another person ( person 2 ); and
(d) person 2 is not acting on behalf of person 1; and
(e) person 1 is not the holder of a financial services licence that authorises person 1 to provide financial product advice; and
(f) person 1 does not select the content of the document, modify the content of the document or otherwise exercise control over the content of the document; and
(g) a reasonable person would not consider that person 1 provided, endorsed or otherwise assumed responsibility for the financial product advice contained in the document.
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