(1) This regulation:
(a) is made for subsection 1528(2) of the Act; and
(b) prescribes a circumstance in which Division 4 of Part 7.7A of Chapter 7 of the Act does not apply to a benefit.
Note: Subsection 1528(1) of the Act sets out a rule about when Division 4 of Part 7.7A of Chapter 7 of the Act does not apply to a benefit given to a financial services licensee, or a representative of a financial services licensee. Subsection 1528(2) of the Act permits regulations to prescribe circumstances in which that Division applies, or does not apply, to a benefit.
(2) The circumstance is that:
(a) the benefit is paid under an arrangement (the new arrangement ) that was entered into on or after the application day, within the meaning of subsection 1528(4) of the Act; and
(b) the new arrangement is on the same terms as an arrangement (the previous arrangement ) that was in place immediately before the application day, except that the new arrangement does not provide for the giving of remuneration that would not be permissible under section 1528 of the Act or regulations made for that section; and
(c) the previous arrangement was terminated as a result of the application of Division 4 of Part 7.7A of Chapter 7 of the Act.