Commonwealth Consolidated Regulations

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Life insurance broker

             (1)  For section 1444 of the Act, a reference in the definition of life insurance broker in subsection 3(2) of the Superannuation (Resolution of Complaints) Act 1993 to a financial services licensee includes a regulated principal:

                     (a)  mentioned in item 5 of the table in section 1430 of the Act; and

                     (b)  who is registered under Part III of the Insurance (Agents and Brokers) Act 1984 in respect of life insurance.

             (2)  Subregulation (1) ceases to apply in relation to the regulated principal at the end of the transition period in relation to the regulated principal.

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