Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:4:p14
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 4 (pt 14/49)
Character Range: 1016232–1019141

is provided other than through an education or training course—the dominant purpose of the benefit is education and training; or
 (d) each of the following is satisfied:
 (i) the benefit is the provision of information technology software or support;
 (ii) the benefit is relevant to dealing in life risk insurance products.

Subdivision 2—Monetary benefits that are not conflicted remuneration

7.7A.12  What subdivision is about
  This subdivision:
 (a) is made for paragraph 963B(1)(e) of the Act; and
 (b) prescribes the circumstances in which a monetary benefit given to a financial services licensee, or representative of a financial services licensee, (the provider) who provides financial product advice to persons as retail clients is not conflicted remuneration.

7.7A.12B  Stamping fees
 (1) A monetary benefit is not conflicted remuneration if:
 (a) it is a stamping fee given to facilitate an approved capital raising; and
 (b) in a case where the benefit is given on or after 1 July 2020—the approved capital raising does not relate to an approved financial product that consists of:
 (i) interests, or proposed interests, in a company (other than an infrastructure entity) that is listed, or proposed to be listed, and whose main purpose is investing in passive investments; or
 (ii) interests, or proposed interests, in a managed investment scheme (other than a real estate investment trust or an infrastructure entity) that is listed or proposed to be listed.
 (2) In this regulation:
approved capital raising means:
 (a) an offer to issue an approved financial product; or
 (b) an offer to sell an approved financial product;
where the purpose of the offer is to raise funds for the person issuing or selling the approved financial product.
approved financial product means:
 (a) debentures, stocks or bonds that are, or are proposed to be, issued by a government; or
 (b) shares in, or debentures of, a body that are, or are proposed to be, quoted on a declared financial market; or
 (c) interests in a managed investment scheme that are, or are proposed to be, quoted on a declared financial market; or
 (d) a right to acquire, by way of issue, shares, debentures or interests mentioned in paragraph (b) or (c).
infrastructure assets means any of the following:
 (a) airports;
 (b) electricity generation, transmission or distribution facilities;
 (c) gas transmission or distribution facilities;
 (d) hospitals;
 (e) ports;
 (f) prisons;
 (g) railways;
 (h) roads;
 (i) sewerage facilities;
 (j) telecommunication facilities;
 (k) water supply facilities.
infrastructure entity means a company or managed investment scheme whose main purpose is to operate or invest in infrastructure assets.
interest, in a company or managed investment scheme, does not include a stapled real estate or infrastructure interest in the company or managed investment scheme.
passive investments, in relation