Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:3:p26
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 3 (pt 26/43)
Character Range: 767307–770030

in the jurisdiction;
 (ii) person 1 believes on reasonable grounds that another person (person 2) is not in the jurisdiction;
 (iii) person 1 deals on behalf of person 2 in a financial product that cannot be traded on a licensed market;
 (iv) person 1 believes on reasonable grounds that each person who is a party to the dealing or any transaction to which the dealing relates is a person that is not in the jurisdiction;
 (h) a dealing in a financial product that consists only of an employer‑sponsor paying contributions on behalf of an employee into a superannuation product or RSA;
 (hb) a dealing in a financial product that consists only of an RSA provider paying the benefits of an RSA holder into a superannuation product or RSA;
 (hc) a dealing in a financial product that consists only of an employer‑sponsor arranging for the issue of a superannuation product to an employee;
 (k) a financial service provided in the following circumstances:
 (i) the financial service is provided in respect of a financial product by a person (who may be described as a 'sub‑custodian') under an arrangement with a financial services licensee (the master‑custodian);
 (ii) the master‑custodian is authorised by its Australian financial services licence to provide a custodial or depository service;
 (iii) a beneficial interest in the financial product is held by the master‑custodian on trust for or on behalf of a client as part of providing a custodial or depository service authorised by its Australian financial services licence;
 (l) a financial service provided by a person (person 1) in the following circumstances:
 (i) the financial service is provided to another person (person 2) in the ordinary course of person 1's business;
 (ii) person 1 does not provide financial services as a significant part of person 1's business;
 (iii) the financial service consists only of either or both of:
 (A) advising person 2 in relation to a non‑cash payments facility that person 2 may use or has used to pay person 1 for goods or services; and
 (B) arranging to deal in a non‑cash payments facility that person 2 will use to pay person 1 for goods or services;
 (iv) the goods and services do not include any financial products or financial services;
Example:
 A retailer might offer its customers a variety of payment methods for payment for goods and services, such as a credit card, Bpay, or direct debit.
 A recommendation of a particular payment method, or the expression of an opinion about the payment methods available to the customer, should not require an Australian financial services licence.
 (la) a financial service provided by a person (person 1) to another person (person 2), if:
 (i) the financial service is