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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