Commonwealth Consolidated Regulations

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Treatment of arrangements under which a person can instruct another person to acquire a financial product

             (1)  For section 1444 of the Act, this regulation applies in relation to a custodial arrangement (within the meaning of section 1012IA of the Act) in which the client is the holder of a superannuation product issued to the client by the provider.

             (2)  Section 1012IA of the Act does not apply to a regulated acquisition (within the meaning of that section) that occurs under the custodial arrangement.

             (3)  Subregulation (2) ceases to apply at the end of 2 years after the FSR commencement.

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