Corporations Amendment Regulation 2012 (No. 4) (170 of 2012)

Schedule 1   Amendment

[2]   After regulation 7.7.09BB

insert

7.7.09BC Statement of Advice given by financial services licensee: non-monetary benefit that is not conflicted remuneration

(1) This regulation is made for paragraph 947B (4) (b) of the Act.

(2) Information about a non-monetary benefit that, in accordance with paragraph 963C (b) of the Act, is not conflicted remuneration is not required by paragraph 947B (2) (d) of the Act.

Note Under paragraph 963C (b) of the Act, if a non-monetary benefit is given to a financial services licensee, or a representative of a financial services licensee, who provides financial advice, is less than the prescribed amount and identical or similar benefits are not given on a frequent or regular basis, the benefit is not conflicted remuneration.

7.7.09BD Statement of Advice given by authorised representative: non-monetary benefit that is not conflicted remuneration

(1) This regulation is made for paragraph 947C (4) (b) of the Act.

(2) Information about a non-monetary benefit that, in accordance with paragraph 963C (b) of the Act, is not conflicted remuneration is not required by paragraph 947C (2) (e) of the Act.

Note Under paragraph 963C (b) of the Act, if a non-monetary benefit is given to a financial services licensee, or a representative of a financial services licensee, who provides financial advice, is less than the prescribed amount and identical or similar benefits are not given on a frequent or regular basis, the benefit is not conflicted remuneration.