Corporations Amendment Regulations 2002 (No. 3) (41 of 2002)

Schedule 1   Amendments commencing at 12.02 am (in the Australian Capital Territory) on 11 March 2002

[49]   After subregulation 7.8.21 (1)

insert

(1A) For subsection 991F (2) of the Act, that subsection does not have effect in relation to a financial services licensee that gives credit in good faith to a person employed by:

(a) the financial services licensee; or

(b) a person related to the financial services licensee;

to enable the person to acquire an insurance product in relation to a credit facility provided by the financial services licensee to the person.

Example

Mortgage insurance is an insurance product in relation to a credit facility.