CORPORATIONS REGULATIONS 2001 - REG 7.7A.06 Best interests duty--general insurance products
CORPORATIONS REGULATIONS 2001 - REG 7.7A.06
Best interests duty--general insurance products(a) is made for paragraph 961B(5)(b) of the Act; and
(b) prescribes a circumstance in which the provider is not required to prove that he or she has taken the steps mentioned in paragraphs 961B(2)(d), (e), (f) and (g) of the Act.
(2) The provider is not required to prove that he or she has
taken the steps to the extent that the subject matter of the advice sought by
the client is a general insurance product.