Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_766a
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 766A
Character Range: 62151–63423

766A  When does a person provide a financial service?

 (1) For the purposes of this Chapter, subject to paragraph (2)(b), a person provides a financial service if they:
 (a) provide financial product advice (see section 766B); or
 (b) deal in a financial product (see section 766C); or
 (c) make a market for a financial product (see section 766D); or
 (d) operate a registered scheme; or
 (e) provide a custodial or depository service (see section 766E); or
 (f) engage in conduct of a kind prescribed by regulations made for the purposes of this paragraph.

 (2) The regulations may set out:
 (a) the circumstances in which persons facilitating the provision of a financial service (for example, by publishing information) are taken also to provide that service; or
 (b) the circumstances in which persons are taken to provide, or are taken not to provide, a financial service.

 (3) To avoid doubt, a person's conduct is not the provision of a financial service if it is done in the course of work of a kind ordinarily done by clerks or cashiers.

 (4) For the purposes of this section, a person is not operating a registered scheme merely because:
 (a) they are acting as an agent or employee of another person; or
 (b) they are taking steps to wind up the scheme.