Treasury Laws Amendment (ALRC Financial Services Interim Report) Regulations 2023 (F2023L01458)

Schedule 1   Main amendments

Part 6   Terms relating to financial services and markets

Corporations Regulations 2001

197   Paragraph 7.7A.11C(1)(b)

Repeal the paragraph, substitute:

(b) none of the products is a life risk insurance product covered by subsection 963B(2) of the Act and either:

(i) the benefit ratio for the benefit is the same for the year in which the product or products are issued as it is for each year in which the product or products are continued; or

(ii) the benefit ratio requirements and clawback requirements are satisfied in relation to the benefit; or