Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:15:p27
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 15 (pt 27/73)
Character Range: 1755343–1758105

issuer in relation to the product during the transition period for the product.

10.2.82  Money received for financial product before the product is issued: general
 (1) For section 1444 of the Act, this regulation applies if:
 (a) money is paid to a person before the FSR commencement to acquire a financial product (whether the money is paid by the person who is to acquire the financial product or by another person); and
 (b) the person holds the money immediately after the FSR commencement.
 (2) The following provisions of the relevant old legislation continue to apply in relation to the person and the money:
 (a) section 722 of the old Corporations Act, and any associated provisions;
 (b) Division 5 of Part 19 of the SIS Act, and any associated provisions;
 (c) Division 6 of Part 5 of the RSA Act, and any associated provisions;
 (d) section 37 of the Insurance (Agents and Brokers) Act 1984 (other than subsection 37(2)), and any associated provisions.
 (3) Section 1017E of the Act does not apply in relation to the person and the money.

10.2.83  Money received for financial product before the product is issued: requirement before application of subsection 37(2) of Insurance (Agents and Brokers) Act 1984
  Section 37 of the Insurance (Agents and Brokers) Act 1984 (other than subsection 37(2)) does not apply in relation to money to which section 1017E of the Act applies unless one of the events mentioned in subsection 1017E(3) of the Act occurs.

10.2.84  Confirmation of transactions
 (1) For section 1444 of the Act, this regulation applies in relation to a financial product to which:
 (a) section 1017F of the Act applies; and
 (b) subsection 37(2) of the Insurance (Agents and Brokers) Act 1984 would, but for subregulation (2), apply after the FSR commencement.
 (2) Subsection 37(2) of the Insurance (Agents and Brokers) Act 1984 does not apply in relation to the financial product.

10.2.85  Dispute resolution requirements: financial products
 (1) For section 1444 of the Act, this regulation applies in relation to financial products (the relevant financial products) other than financial products that are, or have been, available for acquisition at a time at which Division 2 of Part 7.9 of the Act applies to the financial products.
 (2) A reference in section 1017G of the Act to financial products that are, or have been, available for acquisition does not include the relevant financial products.

10.2.86  Dispute resolution requirements: regulated principals
 (1) For section 1444 of the Act, if:
 (a) a regulated principal in relation to a financial product would, but for this regulation, be required by subsection 1017G(1) of the Act to have a dispute resolution system for the financial product; and
 (b) the issue or