Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:7:p17
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 7 (pt 17/39)
Character Range: 1145469–1148088

for the purposes of Part 3 of that Act apply;
 (g) an offer of, or a request or invitation relating to, a financial product that is an interest in a scheme that is in the nature of a litigation funding scheme, or a litigation funding arrangement, mentioned in regulation 5C.11.01;
 (h) an offer of, or a request or invitation relating to, a financial product that is a basic banking product, if the offer, request or invitation was made in the course of contact with the consumer that the consumer initiated for any purpose;
 (i) an offer of, or a request or invitation relating to, a financial product that is a facility if:
 (i) the definition of basic deposit product in section 9 of the Act does not apply to the facility, but would apply to the facility if paragraph (d) of that definition were disregarded; and
 (ii) funds are able to be withdrawn or transferred from the facility on the instruction of, or by authority of, the depositor with prior notice of 31 days or less to the ADI that makes the facility available (whether or not the withdrawal or transfer will attract a reduction in the return generated for the depositor); and
 (iii) the offer, request or invitation was made in the course of contact with the consumer that the consumer initiated for any purpose;
 (j) an offer for the issue or sale of a financial product that is substantially similar to a financial product (the current financial product) that the recipient of the offer:
 (i) already holds with the offeror; or
 (ii) held with the offeror at any time during the period of 30 day before the day on which the offer is made;
  and that is in the nature of an offer to renew the current financial product.

7.8.23  Return of financial product: transfer between superannuation entities or RSAs
 (1) For the purposes of paragraph 992AA(2)(c) of the Act, this regulation applies in relation to a superannuation product or an RSA that has been issued to the holder of the product as a result of a transfer between superannuation entities or RSAs.
 (2) It is a requirement of the exercise of the right to return the superannuation product or RSA that, if the money to be repaid includes:
 (a) restricted non‑preserved benefits; or
 (b) preserved benefits;
the holder of the superannuation product, or the RSA holder, must nominate a superannuation fund, approved deposit fund or RSA into which the money representing restricted non‑preserved benefits or preserved benefits is to be repaid.
 (3) For the purposes of paragraph 992AA(2)(c) of the Act, if the right of return is exercised, the responsible person must return the money as directed.