Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.8 - OTHER PROVISIONS RELATING TO CONDUCT ETC. CONNECTED WITH FINANCIAL PRODUCTS AND FINANCIAL SERVICES, OTHER THAN FINANCIAL PRODUCT DISCLOSURE  

Division 4 - Special provisions relating to insurance  

SECTION 985C   REGULATIONS MAY IMPOSE OTHER REQUIREMENTS ETC. IF FINANCIAL SERVICES LICENSEE IS NOT THE INSURER  

985C(1)    
The regulations may impose requirements to be complied with by a financial services licensee in relation to, or make other provision dealing with, a situation specified in subsection (2) that arises in relation to a contract or proposed contract of insurance under which the licensee is not the insurer.

985C(2)    
The situations are as follows:

(a)    the licensee receives an amount as a premium or instalment of premium;

(b)    the licensee does not receive an amount as a premium or instalment of premium by a particular time;

(c)    the licensee is not aware of the amount of a premium or instalment of premium that is to be paid;

(d)    the licensee receives money from the insured or intending insured but the risk or part of the risk has not been accepted by a particular time;

(e)    the licensee receives money from the insurer for payment to or on behalf of the insured.



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