Document ID: chunk:federal_register_of_legislation:F2024L01152:clause:1_76
Version: federal_register_of_legislation:F2024L01152
Segment Type: clause
Provision Reference: sch 1 cl 76
Character Range: 19544–20431

76  In the appropriate position in Part 10.52
Insert:

10.52.05  Application—informed consent for benefits given in relation to general insurance products
 (1) The amendments of regulation 7.7A.12G made by Part 5 of Schedule 1 to the Treasury Laws Amendment (Delivering Better Financial Outcomes) Regulations 2024 apply to benefits given on or after the commencement of Part 5 of Schedule 1 to the Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Act 2024 in relation to the issue or sale of general insurance products 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 that Part.