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

Schedule 1   Main amendments

Part 4   Terms relating to licensed trustee companies

Corporations Regulations 2001

84   Subregulations 5D.4.01(2) and (3)

Repeal the subregulations, substitute:

(2) For the purposes of section 601SAB of the Act, the obligations of the receiving company include the provision to retail clients of access to the following in relation to a complaint arising from the provision of traditional trustee services by the transferring company:

(a) the arrangements for compensation the receiving company is required to have under subsection 912B(1) of the Act;

(b) the dispute resolution system the receiving company is required to have under subparagraph 912A(1)(g)(i) of the Act.