CORPORATIONS REGULATIONS 2001 - REG 7.1.30 Information and advice about voting

CORPORATIONS REGULATIONS 2001 - REG 7.1.30

    For paragraph   766A(2)(b) of the Act, a circumstance in which a person is taken not to provide a financial service within the meaning of paragraph   766A(1)(a) of the Act is that:

  (a)   the service provided by the person consists only of advising another person in relation to the manner in which:

  (i)   voting rights attaching to securities; or

  (ii)   voting rights attaching to interests in managed investment schemes;

    may or should be exercised; and

  (b)   the advice is not intended to influence any decision in relation to financial products other than a decision about voting; and

  (c)   the advice could not be reasonably be regarded as intended to influence a decision in relation to financial products, other than a decision about voting; and

  (d)   the advice does not relate to a vote that relates to a dealing in financial products.

Note:   A service that includes advice which is intended to influence the decision to acquire securities in another company would be not provided in circumstances covered by this regulation.