Corporations Act 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
PART 7.7A
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BEST INTERESTS OBLIGATIONS AND REMUNERATION
Division 2
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Best interests obligations
Subdivision B
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Provider must act in the best interests of the client
SECTION 961F
961F
WHAT IS A
BASIC BANKING PRODUCT
?
Each of the following is a basic banking product :
(a) a basic deposit product;
(b) a facility for making non-cash payments (see section 763D );
(c) (Repealed)
(d) a facility for providing traveller ' s cheques;
(e) any other product prescribed by regulations for the purposes of this paragraph.
[ CCH Note: Ch 7 will be amended by No 8 of 2022, s 3, Sch 2[165], by inserting the note, (effective 1 July 2022). The note will read:
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .]
View history note
Hide history noteEach of the following is a basic banking product :
(a) a basic deposit product;
(b) a facility for making non-cash payments (see section 763D );
(c) (Repealed)
(d) a facility for providing traveller ' s cheques;
(e) any other product prescribed by regulations for the purposes of this paragraph.
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