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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

  (1)   This regulation:

  (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.

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