Document ID: chunk:federal_register_of_legislation:C2025C00185:section:766b:p2
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 766B (pt 2/3)
Character Range: 3035635–3038363

as such an agent and that is reasonably regarded as a necessary part of those activities.
 (6) If:
 (a) in response to a request made by a person (the inquirer) to another person (the provider), the provider tells the inquirer the cost, or an estimate of the likely cost, of a financial product (for example, an insurance product); and
 (b) that cost or estimate is worked out, or said by the provider to be worked out, by reference to a valuation of an item (for example, a house or car to which an insurance policy would relate), being a valuation that the provider suggests or recommends to the inquirer;
the acts of telling the inquirer the cost, or estimated cost, and suggesting or recommending the valuation, do not, of themselves, constitute the making of a recommendation (or the provision of any other kind of financial product advice) relating to the financial product.
 (7) If:
 (a) in response to a request made by a person (the inquirer) to another person (the provider), the provider tells the inquirer information about:
 (i) the cost of a financial product; or
 (ii) the rate of return on a financial product; or
 (iii) any other matter identified in regulations made for the purposes of this subparagraph; and
 (b) the request could also have been complied with (but was not also so complied with) by telling the inquirer equivalent information about one or more other financial products;
the act of telling the inquirer the information does not, of itself, constitute the making of a recommendation (or the provision of any other kind of financial product advice) in relation to the financial product referred to in paragraph (a).
 (7A) A recommendation or a statement of opinion, or a report of either of those things, is not financial product advice if giving the recommendation, statement of opinion or report could reasonably be regarded as a necessary part of providing a claims handling and settling service.
 (7B) The regulations may prescribe:
 (a) circumstances in which giving a recommendation, statement of opinion or report could reasonably be regarded as a necessary part of providing a claims handling and settling service for the purposes of subsection (7A); and
 (b) circumstances in which giving a recommendation, statement of opinion or report could not reasonably be regarded as a necessary part of providing a claims handling and settling service for the purposes of subsection (7A).
 (8) Subsections (5), (6), (7) and (7A) are not intended to affect, in any way, the determination of whether situations not covered by those subsections do, or do not, constitute the provision of financial product advice.
 (9) In this section:
exempt document or statement means:
 (a) a document prepared,