Corporations Act 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

PART 10.78 - PROVISIONS RELATING TO SCHEDULE 1 TO THE TREASURY LAWS AMENDMENT (DELIVERING BETTER FINANCIAL OUTCOMES AND OTHER MEASURES) ACT 2024  

Division 2 - Conflicted remuneration  

SECTION 1708D   BENEFITS FOR EMPLOYEES OF ADIs  

1708D(1)    
The repeal of section 963D by item 91 of Part 4 of Schedule 1 to the Treasury Laws Amendment (Delivering Better Financial Outcomes and Other Measures) Act 2024 applies to a benefit given to a financial services licensee, or a representative of a financial services licensee, under an arrangement if:

(a)    the arrangement was entered into on or after the day (the deferred start day ) that is 6 months after the commencement of that Part; or

(b)    all of the following apply:

(i) the arrangement was varied on or after the deferred start day;

(ii) the variation related to the giving of benefits under the arrangement;

(iii) the benefit is given on or after the deferred start day.

1708D(2)    
The repeal of that section also applies to a benefit if:

(a)    the benefit is given to a financial services licensee, or a representative of a financial services licensee, otherwise than under an arrangement; and

(b)    the benefit is given on or after the deferred start day.