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 noteThis Subdivision applies if:
(a) a financial services licensee or an RSE licensee (the platform operator ) is, or offers to be, the provider of a custodial arrangement; and
(b) a monetary or non-monetary benefit is given, or to be given, by a financial services licensee, RSE licensee or the operator of a notified foreign passport fund (the funds manager ) to the platform operator; and
(c) a financial product to which the custodial arrangement relates is a financial product in which the funds manager deals (the funds manager ' s financial product ).
964(2)
In this Subdivision:
custodial arrangement
has the same meaning as it has in subsection
1012IA(1)
, subject to subsection (3).
provider
has the same meaning as in subsection
1012IA(1)
.
964(3)
The definition of custodial arrangement in subsection 1012IA(1) is to be read as if the reference in that definition to an instruction included a reference to:
(a) a direction of the kind mentioned in paragraph 58(2)(d) or (da) of the Superannuation Industry (Supervision) Act 1993 that will involve the acquisition of a particular financial product, or a financial product of a particular kind; and
(b) a direction of the kind mentioned in subsection 52B(4) of the Superannuation Industry (Supervision) Act 1993 that will involve the acquisition of a particular financial product, or a financial product of a particular kind.
964(4)
A reference to a kind of financial product in subsection (3) has the same meaning in that subsection as it has in the definition of custodial arrangement in subsection 1012IA(1) .
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