Commonwealth Consolidated Regulations

CORPORATIONS REGULATIONS 2001 - REG 7.9.08C

    For subsection   1017E(2C) of the Act, if money is paid to a product provider for a financial product that is a superannuation product or an RSA:

  (a)   subsection   1017E(2A) of the Act does not apply in relation to the money; and

  (b)   the money is taken to be held in trust by the product provider for the benefit of the person who is entitled to the money.