Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:3:p51
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 3 (pt 51/52)
Character Range: 195153–198030

of a financial service by the provider in respect of issuing an interest in the entity unless the provider is:
 (a) a financial services licensee that is authorised to deal in superannuation products; or
 (b) an authorised representative of a financial services licensee that is authorised to deal in superannuation products; or
 (c) exempt from the requirement to hold an Australian financial services licence; or
 (d) the provider of the financial service on behalf of another person who is exempt.
 (4) A reference in subregulation (3) to a solicitor or accountant includes a reference to a firm of solicitors or accountants, or to a partner in such a firm, as the case requires.
 (5) The trustee of an entity must keep an account of amounts of commission and brokerage paid by the entity.

3.11  Payment by trustee of a public offer entity of commission or brokerage
 (1) This regulation applies in relation to a person who, immediately before this regulation commences, was entitled to a payment of commission or brokerage in the circumstances mentioned in paragraph 3.10(3)(a), (b), (d), (e) or (f) of the SIS Regulations.
 (2) Regulation 3.10, as in force immediately before this regulation commences, continues to apply in relation to the person's entitlement.
 (3) Subregulation (2) ceases to apply in relation to the entitlement on the earlier of:
 (a) the day on which the person becomes a financial services licensee in relation to the activity to which the payment relates; and
 (b) the end of the transition period for the person mentioned in section 1438 of the Corporations Act 2001.

Part 3A—Matters prescribed or specified in relation to licensing of trustees and of groups of individual trustees

Division 3A.1—Classes of RSE licences

3A.01  Public offer entity licences
  For paragraph 29B(2)(b) of the Act, the following classes of registrable superannuation entities are specified:
 (a) superannuation entities that are superannuation funds with no more than 6 members (other than self managed superannuation funds);
 (b) excluded approved deposit funds.

3A.02  Non‑public offer entity licences
 (1) For subsection 29B(3) of the Act, all classes of registrable superannuation entities, other than the following classes, are specified:
 (a) public offer entities;
 (b) superannuation entities that are superannuation funds with no more than 6 members (other than self managed superannuation funds);
 (c) excluded approved deposit funds.
 (2) The class of RSE licences provided for under subsection 29B(3) of the Act is called the class of non‑public offer entity licences.

3A.03  Extended public offer entity licences
 (1) For subsection 29B(4) of the Act, extended public offer entity licences are a class of RSE licences.
 (2) Subject to any condition imposed on an extended public offer entity licence under subsection 29EA(3) of the Act, the licence