Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.7A.12A

Life risk insurance products

                   A monetary benefit is not conflicted remuneration if the benefit is given in relation to a life risk insurance product, other than:

                     (a)  a group life policy for members of a superannuation entity; or

                     (b)  a life policy for a member of a default superannuation fund.

Note 1:       The definitions of group life policy for members of a superannuation entity and life policy for a member of a default superannuation fund are in section 963B of the Act.

Note 2:       If a benefit is given in relation to a financial product that consists of both general insurance and life risk insurance, the benefit is to be treated as relating to a general insurance product and a life risk insurance product.



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