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

Schedule 1   Amendments commencing on gazettal

[13]   After regulation 7.9.08B

insert in Division 3

7.9.08C Money held in trust for a superannuation product or RSA product

For subsection 1017E (2C) of the Act, if money is paid to a product provider for a financial product that is a superannuation product or an RSA product, as defined in section 761A of the Act:

(a) subsection 1017E (2A) of the Act does not apply in relation to the money; and

(b) the money is taken to be held in trust by the product provider for the benefit of the person who is entitled to the money.