Corporations Regulations 2001
View history note
Hide history note[ CCH Note: Pursuant to the Corporations Amendment Regulations 2001 (No 4) (SR 2001 No 319) effective 11 March 2002, Chapter 7 (Securities) comprising reg 7.1.01 - 7.15.01 and Chapter 8 (The futures industry) comprising reg 8.1.01 - 8.7.03 are replaced by a new Chapter 7 (Financial services and markets) comprising reg 7.1.01 - 7.12.01. As the subject matter of the new Chapter 7 relates to the new financial services reform regime, " inserted " has been used in the history notes for each provision, and all references to the former provisions have been removed.]
This regulation applies to an arrangement between 2 persons ( person 1 and person 2 ) made in the following circumstances:
(a) person 1 leases or rents something from person 2;
(b) under the arrangement, person 1 makes a payment to person 2 to reduce the amount that person 1 would otherwise have to pay to person 2 under the leasing or rental agreement;
(c) the payment relates to the event of an accident or other eventuality affecting the thing that is being leased or rented.
7.1.07A(2) [ Arrangement not financial product]Example
Collision damage waiver insurance for a rental car.
For paragraph 765A(1)(y) of the Act, the arrangement is not a financial product.
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