Document ID: chunk:federal_register_of_legislation:C2025C00182:section:329
Version: federal_register_of_legislation:C2025C00182
Segment Type: section
Provision Reference: s 329
Character Range: 729502–730310

329  Application—deferred sales model for add‑on insurance
 (1) The amendments made by Schedule 3 to the Financial Sector Reform (Hayne Royal Commission Response) Act 2020 apply in relation to a principal product or service (within the meaning of section 12DO) if:
 (a) a person enters into a commitment to acquire the principal product or service on or after the commencement of that Schedule; or
 (b) a person acquires the principal product or service on or after the commencement of that Schedule without previously having entered into such a commitment.
 (2) Regulations made for the purposes of subsection 12DO(3) apply for the purposes of this section.

Part 32—Application and transitional provisions relating to Schedule 4 to the Financial Sector Reform (Hayne Royal Commission Response) Act 2020