Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.1.33B

General advice

  (1)   For paragraph   766A(2)(b) of the Act, this regulation applies in relation to the provision of a service by a person to another person in the following circumstances:

  (a)   the service consists only of general advice in relation to a financial product or class of financial products;

  (b)   the advice is prepared by a product issuer of the financial product or class of financial products who is not a financial services licensee;

  (c)   the advice is provided by a financial services licensee whose financial services licence covers the provision of the advice.

  (2)   The product issuer is taken not to provide a financial service within the meaning of paragraph   766A(1)(a) of the Act.

  (3)   The financial services licensee is taken to provide a financial service within the meaning of paragraph   766A(1)(a) of the Act.


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