Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.7A - BEST INTERESTS OBLIGATIONS AND REMUNERATION  

Division 5 - Other banned remuneration  

Subdivision A - Volume-based shelf-space fees  

SECTION 964   APPLICATION  

964(1)  
This Subdivision applies if:


(a) a financial services licensee or an RSE licensee (the platform operator ) is, or offers to be, the provider of a custodial arrangement; and


(b) a monetary or non-monetary benefit is given, or to be given, by a financial services licensee, RSE licensee or the operator of a notified foreign passport fund (the funds manager ) to the platform operator; and


(c) a financial product to which the custodial arrangement relates is a financial product in which the funds manager deals (the funds manager ' s financial product ).

964(2)  
In this Subdivision:

custodial arrangement
has the same meaning as it has in subsection 1012IA(1) , subject to subsection (3).

provider
has the same meaning as in subsection 1012IA(1) .

964(3)  


The definition of custodial arrangement in subsection 1012IA(1) is to be read as if the reference in that definition to an instruction included a reference to:


(a) a direction of the kind mentioned in paragraph 58(2)(d) or (da) of the Superannuation Industry (Supervision) Act 1993 that will involve the acquisition of a particular financial product, or a financial product of a particular kind; and


(b) a direction of the kind mentioned in subsection 52B(4) of the Superannuation Industry (Supervision) Act 1993 that will involve the acquisition of a particular financial product, or a financial product of a particular kind.

964(4)  
A reference to a kind of financial product in subsection (3) has the same meaning in that subsection as it has in the definition of custodial arrangement in subsection 1012IA(1) .


 

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