For the purpose of assessing the price of a financial product, or the value of a financial product to which a financial service relates, under paragraph 761G(7)(a) of the Act, superannuation-sourced money is not to be counted if:
(a) the financial service provided to a person is:
(i) financial product advice; or
(ii) if the person was a retail client--the provision of a financial product in circumstances in which a Product Disclosure Statement would need to be given to the client under Part 7.9 of the Act (including section 1012A, 1012B, 1012C or 1012IA); and
(b) the financial product to which the financial service relates is a product other than a non-cash payment financial product; and
(c) the person who was the holder of the relevant superannuation interest in the regulated superannuation fund was or would have been a retail client under subsection 761G(6) of the Act if they had held or acquired the product after FSR commencement.
(a) the price for an income stream financial product or an investment-based financial product is $700 000; and
(b) the client uses $400 000 of superannuation-sourced money and $300 000 of other funds;
then, unless the client is a wholesale client for another reason, the client will be a retail client due to the operation of paragraph 761G(7)(a) of the Act.
Note: Under subsections 761G(5), (6) and (7) of the Act, general insurance products, superannuation products and RSA products are not financial products to which the restriction on counting superannuation-sourced money towards the price applies. This applies in addition to the exclusion for non-cash payment products under paragraph (b) of this regulation.