Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:3:p5
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 3 (pt 5/19)
Character Range: 1384031–1386711

financial product of a financial return or other benefit for the holder of the product; or
 (ii) the payment to that holder of that return or other benefit, if the holder has agreed to the method by which the payment will be made; or
 (iii) crediting negative interest to a member's notional account in a superannuation fund, approved deposit fund or pooled superannuation trust account;
 (h) a transaction that relates to:
 (i) a superannuation product or an RSA; and
 (ii) a Government co‑contribution arising under section 6 of the Superannuation (Government Co‑contribution for Low Income Earners) Act 2003.
 (5) For paragraph 1017F(4)(e) of the Act, a transaction in relation to a financial product is not required to be confirmed if:
 (a) the transaction is debiting an amount from a basic deposit product in the circumstances in paragraph (3)(c); and
 (b) the transaction involves the use of a facility for making non‑cash payments that is linked to the basic deposit product; and
 (c) the amount is debited from the basic deposit product for the purpose of making a payment.
 (6) For paragraph 1017F(4)(e) of the Act, a transaction in relation to a financial product is not required to be confirmed if:
 (a) the transaction is crediting an amount to a credit facility; and
 (b) the transaction involves the use of a facility for making non‑cash payments that is linked to the credit facility; and
 (c) the amount is credited to the credit facility for the purpose of making a payment.

7.9.63  Confirmation of transactions: precise costs of transaction not known
 (1) For subparagraph 1017F(8)(c)(iii) of the Act, the confirmation of a transaction of a financial product is not required to include details of the amount payable by the holder of the financial product if the amount is not known at the time of the confirmation.
 (2) For subparagraph 1017F(8)(c)(iv) of the Act, the confirmation of a transaction of a financial product is not required to give details of the taxes and stamp duties payable in relation to the transaction if the amount of the taxes and stamp duties is not known at the time of the confirmation.
 (3) For paragraph 1017F(9)(c) of the Act, section 1017F of the Act is modified in relation to its application to a transaction of a financial product as set out in Part 15 of Schedule 10A.

7.9.63A  Persons who must confirm transactions
 (1) For paragraph 1017F(9)(a) of the Act, this regulation modifies subsection 1017F(2) of the Act to change the person required to provide confirmation of a transaction.
 (2) A transaction:
 (a) that is not the issue of a financial product (other than a derivative that is not a warrant); and
 (b) in which a