Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.9 - FINANCIAL PRODUCT DISCLOSURE AND OTHER PROVISIONS RELATING TO ISSUE AND SALE OF FINANCIAL PRODUCTS  

Division 3 - Dealing with money received for financial product before the product is issued  

REGULATION 7.9.08A  

7.9.08A   DEALING WITH INTEREST  

For paragraph 1020G(1) (c) of the Act, Part 7.9 of the Act applies as if section 1017E of the Act were modified by adding after subsection 1017E(2C) :

``(2D)
In relation to money to which this section applies:

(a) the product provider is entitled to the interest on the account; and

(b) the interest on the account is not required to be paid into the account;

only if the product provider discloses to the person who paid the money that the product provider is keeping the interest (if any) earned on the account. " .