Document ID: chunk:federal_register_of_legislation:C2024A00067:clause:1_1708e
Version: federal_register_of_legislation:C2024A00067
Segment Type: clause
Provision Reference: sch 1 cl 1708E
Character Range: 60521–61360

1708E  Informed consent for certain insurance commissions
 (1) The amendments made by Part 5 of Schedule 1 to the Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Act 2024 apply to benefits given on or after the commencement of that Part in relation to the issue or sale of general insurance products, life risk insurance products or consumer credit insurance on or after that commencement.
 (2) However, those amendments do not apply to benefits given in connection with the issue or sale of a general insurance product if:
 (a) the product is a renewal of another general insurance product; and
 (b) that other general insurance product was issued or sold before the commencement of Part 5 of Schedule 1 to the Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Act 2024.