Corporations Regulations 2001
View history note
Hide history note[ CCH Note: Pursuant to the Corporations Amendment Regulations 2001 (No 4) (SR 2001 No 319) effective 11 March 2002, Chapter 7 (Securities) comprising reg 7.1.01 - 7.15.01 and Chapter 8 (The futures industry) comprising reg 8.1.01 - 8.7.03 are replaced by a new Chapter 7 (Financial services and markets) comprising reg 7.1.01 - 7.12.01. As the subject matter of the new Chapter 7 relates to the new financial services reform regime, " inserted " has been used in the history notes for each provision, and all references to the former provisions have been removed.]
Note: Regulations 7.7A.01 to 7.7A.04 are reserved for future use.
This regulation is made for the purposes of subsection 1549B(3) of the Act.
7.7A.16H(2)
The amendments made by Schedule 1 to the amending Act do not apply to a benefit given to a financial services licensee, or a representative of a financial services licensee, in relation to a life risk insurance product issued to a person on or after the commencement day (the post-commencement product ) if:
(a) the person held another life risk insurance product immediately before the commencement day (the pre-commencement product ); and
(b) either:
(i) the person acquires the post-commencement product by exercising an option given to the person under the pre-commencement product; or
(ii) the person acquires the post-commencement product because the pre-commencement product was cancelled due to an administrative error.
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