Corporations Amendment Regulation 2012 (No. 4) (170 of 2012)
Schedule 1 Amendment
[4] After regulation 7.8.11
insert
7.8.11A Particular categories of information to be shown in records: records of non-monetary benefit that is not conflicted remuneration
(1) This regulation is made for paragraph 988E (g) and section 988F of the Act.
(2) The following table sets out matters in relation to a non-monetary benefit that:
(a) is given to a financial services licensee or a representative of a financial services licensee; and
(b) either:
(i) is not conflicted remuneration in accordance with paragraph 963C (b) of the Act, and is over $100; or
(ii) is not conflicted remuneration in accordance with paragraph 963C (c) or (d) of the Act; or
Note Particulars of the matters must be shown in the records kept by the financial services licensee.
|
Item |
Matter |
|---|---|
|
1 |
A description of the benefit |
|
2 |
Either: |
|
(a) the value of the benefit; or |
|
|
(b) if the value is not known, the estimated value of the benefit; |
|
|
expressed as a dollar amount or as a range of dollars |
|
|
3 |
The date on which the benefit was given |
|
4 |
The name of the person who gave the benefit and, if relevant, the number of the person’s financial services licence |
|
5 |
Whether the benefit was given to the licensee or to a representative of the licensee |
|
6 |
If the benefit was given to an authorised representative of the licensee, the name and contact details of the authorised representative |
|
7 |
If the benefit was given to another representative of the licensee, the name and contact details of the other representative |
(3) At the request of a person, a financial services licensee must give the person the particulars in its records relating to the matters in items 1 to 4 of the table for the last financial year.
(4) The licensee may require the person making the request to pay a charge for obtaining the particulars.
(5) The amount of the charge must not exceed the reasonable costs that the licensee incurs that are reasonably related to giving the particulars (including any costs incurred in photocopying the document containing the particulars).
Note This would include the costs of collating the information.
(6) The licensee must give the particulars to the person as soon as practicable, and no later than one month after the person makes the request to the licensee.