Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.7A.12EA

Application of ban on conflicted remuneration--purchase or sale of financial advice business

                   A monetary benefit is not conflicted remuneration to the extent that:

                     (a)  the benefit is given to a financial services licensee or a representative of the licensee; and

                     (b)  the benefit is paid as part of:

                              (i)  the purchase or sale of all or part of the licensee's financial advice business; or

                             (ii)  the purchase or sale of all or part of the representative's financial advice business; and

                     (c)  the price is calculated using a formula:

                              (i)  which is based, in whole or in part, on the number or value of all or part of the financial products held by the licensee's clients or the representative's clients; and

                             (ii)  in which the weighting attributed to the financial products issued by the licensee or a related body corporate or other person is the same as the weighting attributed to other similar financial products.



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