Document ID: chunk:federal_register_of_legislation:F2024C01058:reg:42
Version: federal_register_of_legislation:F2024C01058
Segment Type: reg
Provision Reference: reg 42
Character Range: 53368–54349

42  Licensees that provide personal advice to retail clients on only products that are not relevant financial products
 (1) A leviable entity forms part of the licensees that provide personal advice to retail clients on only products that are not relevant financial products sub‑sector in a financial year if:
 (a) the entity holds, at any time in the financial year, an Australian financial services licence; and
 (b) the licence authorises the holder to provide financial product advice (including a class of product advice) to retail clients, on only one or more of the following products:
 (i) basic banking products;
 (ii) general insurance products;
 (iii) consumer credit insurance.

Entity metric
 (2) The leviable entity's entity metric for the sub‑sector for the financial year is the number of days in the financial year on which the entity holds a licence of the kind mentioned in subsection (1).

Subdivision 4.3—Sub‑sectors to which graduated levy component applies