Commonwealth Consolidated Regulations

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Statement of Advice given by authorised representative: non-monetary benefit that is not conflicted remuneration

             (1)  This regulation is made for paragraph 947C(4)(b) of the Act.

             (2)  Information about a non-monetary benefit that, in accordance with paragraph 963C(b) of the Act, is not conflicted remuneration is not required by paragraph 947C(2)(e) of the Act.

Note:          Under paragraph 963C(b) of the Act, if a non-monetary benefit is given to a financial services licensee, or a representative of a financial services licensee, who provides financial advice, is less than the prescribed amount and identical or similar benefits are not given on a frequent or regular basis, the benefit is not conflicted remuneration.

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