CORPORATIONS REGULATIONS 2001 - REG 7.1.33B General advice
CORPORATIONS REGULATIONS 2001 - REG 7.1.33B
General advice(1) For paragraph 766A(2)(b) of the Act, this regulation applies in relation to the provision of a service by a person to another person in the following circumstances:
(a) the service consists only of general advice in relation to a financial product or class of financial products;
(b) the advice is prepared by a product issuer of the financial product or class of financial products who is not a financial services licensee;
(c) the advice is provided by a financial services licensee whose financial services licence covers the provision of the advice.
(2) The product issuer is taken not to provide a financial service within the meaning of paragraph 766A(1)(a) of the Act.
(3) The financial services licensee is taken to provide a
financial service within the meaning of paragraph 766A(1)(a) of the
Act.