Document ID: chunk:federal_register_of_legislation:C2025C00182:section:12dmc:p2
Version: federal_register_of_legislation:C2025C00182
Segment Type: section
Provision Reference: s 12DMC (pt 2/2)
Character Range: 151353–153313

amount of money—that amount; and
 (ii) otherwise—the market value of so much of the commission as is not expressed as an amount of money.
 (6) In working out the market value of something for the purposes of subparagraph (5)(b)(ii) disregard anything that would prevent or restrict its conversion to money.
 (7) If a commission is provided in connection with 2 or more add‑on risk products, apportion the value of the commission between the add‑on risk products:
 (a) in accordance with the determination under subsection (3) that covers the provision of the add‑on risk products; or
 (b) if the determination does not provide for such apportionment—on a reasonable basis.

Multiple commissions
 (8) For the purposes of this Act, if more than one commission is provided (by one or more persons to one or more persons) in connection with the add‑on risk product, subsection (1) applies as if:
 (a) one single commission is provided that comprises all of those commissions; and
 (b) if those commissions are provided by more than one person—that single commission is jointly provided by all of those persons; and
 (c) the value of that single commission is the sum of the values of all of those commissions.

Commissions for consumer credit insurance
 (9) This section does not affect the application of section 145 of the National Credit Code to a commission paid in connection with consumer credit insurance (within the meaning of the National Credit Code) unless the insurance:
 (a) is an add‑on risk product of a kind covered by a determination under subsection (3); and
 (b) is provided in connection with:
 (i) the sale or long‑term lease of a motor vehicle; or
 (ii) the provision of credit connected with the sale or long‑term lease of a motor vehicle.
Note: In the absence of an applicable determination under subsection (3), section 145 of the National Credit Code imposes a 20% cap on commissions provided in connection with consumer credit insurance.