Document ID: chunk:federal_register_of_legislation:C2024A00067:clause:1_1708c
Version: federal_register_of_legislation:C2024A00067
Segment Type: clause
Provision Reference: sch 1 cl 1708C
Character Range: 53296–54608

1708C  Benefits given by a retail client
  The amendments made by Part 4 of Schedule 1 to the Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Act 2024 apply to benefits given on or after the commencement of that Part.

 1708D  Benefits for employees of ADIs
 (1) The repeal of section 963D by item 91 of Part 4 of Schedule 1 to the Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Act 2024 applies to a benefit given to a financial services licensee, or a representative of a financial services licensee, under an arrangement if:
 (a) the arrangement was entered into on or after the day (the deferred start day) that is 6 months after the commencement of that Part; or
 (b) all of the following apply:
 (i) the arrangement was varied on or after the deferred start day;
 (ii) the variation related to the giving of benefits under the arrangement;
 (iii) the benefit is given on or after the deferred start day.
 (2) The repeal of that section also applies to a benefit if:
 (a) the benefit is given to a financial services licensee, or a representative of a financial services licensee, otherwise than under an arrangement; and
 (b) the benefit is given on or after the deferred start day.

Part 5—Insurance commissions

Corporations Act 2001