Document ID: chunk:federal_register_of_legislation:F2021L00271:reg:6
Version: federal_register_of_legislation:F2021L00271
Segment Type: reg
Provision Reference: reg 6
Character Range: 2305–2924

6  Application of ban on conflicted remuneration
 (1) This section is made for the purposes of subitem 3(2) of Schedule 10 to the Act.
 (2) Division 4 of Part 3‑5A of the National Credit Act, as inserted by item 5 of Schedule 3 to the amending Act, applies to a benefit given to a licensee, or a representative of a licensee, at or after the commencement time under an arrangement entered into before, at or after the commencement time.
 (3) Subsection (2) does not apply to a benefit in relation to which a class of persons is exempt under the ASIC Credit (Deferral of Mortgage Broker Obligations) Instrument 2020/487.