Corporations Amendment Regulations 2010 (No. 3) (88 of 2010)

Schedule 1 Amendments commencing on commencement of Schedule 2 to Corporations Legislation Amendment (Financial Services Modernisation) Act 2009

insert

For subsection 761G (6A) of the Act, a traditional trustee company service is not provided to a person as a retail client if:

(a) the service is provided to the person for use in relation to a business that is not a small business; or

(b) the person to whom the service is provided is a professional investor.

Note Small business is defined in subsection 761G (12) of the Act and professional investor is defined in section 9 of the Act.