Document ID: chunk:federal_register_of_legislation:C2020A00135:clause:7_13
Version: federal_register_of_legislation:C2020A00135
Segment Type: clause
Provision Reference: sch 7 cl 13
Character Range: 97747–99311

13  After paragraph 911B(1)(e)
Insert:
 ; (f) these conditions are satisfied:
 (i) the service is a claims handling and settling service in relation to an insurance product; and
 (ii) the principal holds an Australian financial services licence covering the provision of the service; and
 (iii) either the provider is not a person described in subparagraphs 911A(2)(ek)(i) to (vi) (insurers etc.) or, if the provider is a person described in one of those subparagraphs, the claims handling and settling service is of a kind described in paragraph 911A(2)(en) (legal services);
 (g) these conditions are satisfied:
 (i) the service is a claims handling and settling service in relation to an insurance product; and
 (ii) the principal is an authorised representative of a financial services licensee; and
 (iii) the financial services licensee holds an Australian financial services licence covering the provision of the service; and
 (iv) the authorisation by the financial services licensee covers the provision of the service by the authorised representative; and
 (v) the authorised representative has entered into an arrangement with the provider for the provider to provide the service on behalf of the authorised representative and the financial services licensee; and
 (vi) either the provider is not a person described in subparagraphs 911A(2)(ek)(i) to (vi) (insurers etc.) or, if the provider is a person described in one of those subparagraphs, the claims handling and settling service is of a kind described in paragraph 911A(2)(en) (legal services).