Commonwealth Consolidated Regulations

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Passing on prepared documents

                   For paragraph 766A(2)(b) of the Act, a circumstance in which a person ( person 1 ) is taken not to provide a financial service within the meaning of paragraph 766A(1)(a) of the Act is that:

                     (a)  person 1 provides a service to a person; and

                     (b)  the service consists only of passing on, publishing, distributing or otherwise disseminating a document that contains financial product advice; and

                     (c)  the document was provided by another person ( person 2 ); and

                     (d)  person 2 is not acting on behalf of person 1; and

                     (e)  person 1 is not the holder of a financial services licence that authorises person 1 to provide financial product advice; and

                      (f)  person 1 does not select the content of the document, modify the content of the document or otherwise exercise control over the content of the document; and

                     (g)  a reasonable person would not consider that person 1 provided, endorsed or otherwise assumed responsibility for the financial product advice contained in the document.

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