Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteA non-monetary benefit given to a financial services licensee, or a representative of a financial services licensee, who provides financial product advice to persons as retail clients is not conflicted remuneration in the circumstances set out in any of the following paragraphs: (a) the benefit is given to the licensee or representative solely in relation to a general insurance product; (b) each of the following is satisfied:
(i) the benefit is of less than an amount prescribed;
(c) the benefit satisfies each of the following:
(ii) identical or similar benefits are not given on a frequent or regular basis;
(i) the benefit has a genuine education or training purpose;
(ii) the benefit is relevant to the carrying on of a financial services business;
(d) the benefit satisfies each of the following:
(iii) the benefit complies with regulations made for the purposes of this subparagraph;
(i) the benefit is the provision of information technology software or support;
(ii) the benefit is related to the provision of financial product advice to persons as retail clients in relation to the financial products issued or sold by the benefit provider;
(iii) the benefit complies with regulations made for the purposes of this subparagraph;
(e) (Repealed) (f) the benefit is a prescribed benefit or is given in prescribed circumstances.
963C(2)
The regulations may prescribe circumstances in which, despite subsection (1) , all or part of a benefit is to be treated as conflicted remuneration.
963C(3)
This section applies despite section 963A and any regulations made for the purposes of section 963AA .
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
