Document ID: chunk:federal_register_of_legislation:F2021L01421:clause:1_5
Version: federal_register_of_legislation:F2021L01421
Segment Type: clause
Provision Reference: sch 1 cl 5
Character Range: 6134–7604

5   Section 2.2.6 (Assistance for professional financial advice)
    Omit the section, substitute:

2.2.6    Assistance for professional financial advice
1.  A member is eligible on application for professional financial advice if the financial advice meets the following.
    a.                                                                                                                                    It is provided by one of the following.
                                                                                                                                          i.                                                          A professional financial advisor who holds a current Australian Financial Services Licence.
                                                                                                                                          ii.                                                         An authorised representative of a holder of an Australian Financial Services Licence.
    b.                                                                                                                                    The advice is not for routine tax or accountancy services.
2.  A benefit under subsection 1 can be made as a reimbursement to the member or provided to the service provider.
3.  In this section, professional financial advice means financial advice for a member up to a cumulative lifetime total of $1,000.