Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p81
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 81/148)
Character Range: 534610–537324

provided by a financial services licensee whose financial services licence covers the provision of the advice.
 (2) The product issuer is taken not to provide a financial service within the meaning of paragraph 766A(1)(a) of the Act.
 (3) The financial services licensee is taken to provide a financial service within the meaning of paragraph 766A(1)(a) of the Act.

7.1.33D  Investment‑linked life insurance products
  For paragraph 766A(2)(b) of the Act, a person is taken not to provide a financial service if:
 (a) the person makes a market for a financial product; and
 (b) the person is the issuer of the product; and
 (c) the product is an investment‑linked life insurance policy under an investment‑linked contract (within the meaning of subsection 14(4) of the Life Insurance Act 1995).

7.1.33E  Advice about the existence of a custodial or depository service
  For paragraph 766A(2)(b) of the Act, a person is taken not to provide a financial service if:
 (a) the person provides advice about a custodial or depository service; and
 (b) the advice is not about a financial product; and
 (c) the advice is not intended to influence, and could not reasonably be regarded as being intended to influence, a decision about a financial product other than a product that is a financial product only because it is an equitable right or interest in:
 (i) a share in a body; or
 (ii) a debenture of a body; or
 (iii) an interest in a registered scheme; or
 (iv) an interest in a notified foreign passport fund.
Note: Paragraph (c) of this regulation refers to financial products described in paragraph 92(5)(c) of the Act and in subparagraphs 764A(1)(b)(ii) and (bb)(ii) of the Act.

7.1.33F  School banking
 (1) For paragraph 766A(2)(b) of the Act, a person is taken not to provide a financial service if:
 (a) the service is:
 (i) arranging for the issue, or the acquisition, of a school banking product; or
 (ii) the provision of general advice intended to influence a decision in relation to a school banking product; and
 (b) the person:
 (i) is employed by a school; or
 (ii) provides the service on behalf of a school; and
 (c) the person does not receive any financial benefit for the provision of the service; and
 (d) the Product Disclosure Statement for the product discloses any commissions or other benefits that the school might receive in connection with the issue of the product.
 (2) In this regulation:
school banking product means a basic deposit product, issued by an ADI in the following circumstances:
 (a) it is offered for issue to pupils at a school;
 (b) there is no regular account keeping fee charged for the product.

7.1.33G  Certain general advice that does not attract remuneration