Corporations Amendment Regulation 2012 (No. 4) (170 of 2012)

Schedule 1   Amendment

[5]   After Part 10.15

insert

Part 10.18 Transitional provisions relating to Corporations Amendment (Further Future of Financial Advice Measures) Act 2012

10.18.01 Ban on conflicted remuneration does not apply in certain circumstances

(1) This regulation is made for subsection 1528 (2) of the Act.

(2) A circumstance in which Division 4 of Part 7.7A of the Act does not apply to a benefit given to a financial service licensee, or a representative of a financial services licensee, is that the benefit relates to:

(a) a group life policy for members of a superannuation entity; or

(b) a life policy for a member of a default superannuation fund.

Note For the definitions of group life policy for members of a superannuation entity and life policy for a member of a default superannuation fund: see section 963B of the Act.

(3) This regulation expires on 1 July 2013 as if the regulation had been repealed by another legislative instrument.