CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.7A - BEST INTERESTS OBLIGATIONS AND REMUNERATION  

Division 4 - Conflicted remuneration  

Subdivision C - Ban on conflicted remuneration  

SECTION 963L   963L   VOLUME-BASED BENEFITS PRESUMED TO BE CONFLICTED REMUNERATION  


It is presumed for the purposes of this Division that a benefit of one of the following kinds is conflicted remuneration, unless the contrary is proved:


(a) a benefit access to which, or the value of which, is wholly or partly dependent on the total value of financial products of a particular class, or particular classes:


(i) recommended by a financial services licensee, or a representative of a financial services licensee, to retail clients, or a class of retail clients; or

(ii) acquired by retail clients, or a class of retail clients, to whom a financial services licensee, or a representative of a financial services licensee, provides financial product advice;


(b) a benefit access to which, or the value of which, is wholly or partly dependent on the number of financial products of a particular class, or particular classes:


(i) recommended by a financial services licensee, or a representative of a financial services licensee, to retail clients, or a class of retail clients; or

(ii) acquired by retail clients, or a class of retail clients, to whom a financial services licensee, or a representative of a financial services licensee, provides financial product advice.

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