Document ID: chunk:federal_register_of_legislation:F2024C01051:body:0:p2
Version: federal_register_of_legislation:F2024C01051
Segment Type: other
Provision Reference: 
Character Range: 3503–6288

Act.
custodial or depository service has the meaning given by section 766E of the Act.
decision has the same meaning as in the Administrative Review Tribunal Act 2024.
employee includes independent contractor.
financial product advice has the meaning given by section 766B of the Act.
group purchasing body means a body that arranges for the issue of a risk management product or for a person to be covered by an existing risk management product.
group purchase payment means a payment made by a person to the group purchasing body under an arrangement whereby the body will make a payment to the issuer of the risk management product for or under the product that will enable the person to be covered by the product and either:
(a)  the product is to be issued to that person; or
             (b)  when the product is held by the group purchasing body, the cover is to apply by extension to that person as a named individual under the terms of the product (including any schedule to the product) for an additional payment made to the issuer of the risk management product.
incidental provider: a group purchasing body that operates a risk management scheme, or that provides financial services in relation to risk management products, is an incidental provider if the body:
           (a) provides financial services only incidentally to another relationship with the persons who will be covered by the risk management products to which the financial services or the risk management scheme relates; and
           (b) does not carry on any business in order to make monetary payments to members.
issue and issuer have the meanings given by section 761E of the Act.
limited licensee has the meaning given by subsection 989B(4) of the Act (as modified by regulation 7.8.12A of the Corporations Regulations 2001).
member, in relation to a group purchasing body, means:
(a)  where the body is a company—a member of that company; and
             (b)  otherwise—a person who is treated as a member of the body under its constituent documents and has agreed to be a member of the body.
multinational pooling arrangement means an arrangement under which life, total and permanent disability or income protection insurance is to be issued that:
             (a)  is substantially arranged between bodies that are incorporated or formed outside this jurisdiction and where the majority of the persons who are covered by the insurance are situated outside this jurisdiction; and
             (b)  covers employees of, or persons contracted to provide services to, the group purchasing body or another entity that controls the body or that is controlled by the body; and
             (c)  provides for payments to be received by the group purchasing body based on claims experience for all those