Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:4:p11
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 4 (pt 11/49)
Character Range: 1008678–1011439

of the benefit, is dependent on:
 (i) the value of the life risk insurance product to which the dealing relates, or the life risk insurance products to which the dealings relate; or
 (ii) the number of life risk insurance products to which the dealings relate; and
 (c) the dealing, or dealings, do not occur in the course of, or as a result of, the licensee or representative, or an associate of the licensee or representative:
 (i) providing financial product advice; or
 (ii) giving information in circumstances in which the benefit would be conflicted remuneration under subregulation (1).

7.7A.11C  Circumstances in which benefits in relation to information about life risk insurance products are not conflicted remuneration

Monetary benefits
 (1) Despite subregulation 7.7A.11B(1), a monetary benefit given to a financial services licensee, or a representative of a financial services licensee, in relation to information given to a person, or persons, in relation to a life risk insurance product, or life risk insurance products, is not conflicted remuneration if:
 (a) because of the nature of the benefit or the circumstances in which it is given, the benefit could not reasonably be expected to influence:
 (i) whether the licensee or representative gives the information to the person or persons; or
 (ii) the way in which the licensee or representative presents the information in giving it to the person or persons; or
 (b) none of the products is a life risk insurance product covered by subsection 963B(2) of the Act and either:
 (i) the benefit ratio for the benefit is the same for the year in which the product or products are issued as it is for each year in which the product or products are continued; or
 (ii) the benefit ratio requirements and clawback requirements are satisfied in relation to the benefit; or
 (c) the benefit is given to the licensee or representative in relation to consumer credit insurance; or
 (e) the benefit is given to the licensee as part of the purchase or sale of all or part of the licensee's business, or to the representative as part of the purchase or sale of all or part of the representative's business.

Non‑monetary benefits
 (2) Despite subregulation 7.7A.11B(1), a non‑monetary benefit given to a financial services licensee, or a representative of a financial services licensee, in relation to information given to a person, or persons, in relation to a life risk insurance product, or life risk insurance products, is not conflicted remuneration if:
 (a) because of the nature of the benefit or the circumstances in which it is given, the benefit could not reasonably be expected to influence:
 (i) whether the licensee or representative gives the information to the person or persons; or
 (ii)