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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.7A - BEST INTERESTS OBLIGATIONS AND REMUNERATION    View history reference

Division 1 - Preliminary  

SECTION 960  

960  DEFINITIONS  

 View history reference
In this Part:

asset-based fee has the meaning given by section 964F.

basic banking product has the meaning given by section 961F.

[CCH Note: Definition of "benefit ratio" will be inserted by No 6 of 2017, s 3, Sch 1[2] (effective 1 January 2018). The definition will read:

benefit ratio , for a benefit given to a financial services licensee, or a representative of a financial services licensee, in relation to a life risk insurance product, or life risk insurance products, for a year, has the meaning given by subsection 963B(3A).

]

conflicted remuneration has the meaning given by section 963A, as affected by sections 963B, 963C and 963D.

[CCH Note: Definition of "conflicted remuneration" will be amended by No 6 of 2017, s 3, Sch 1[3], by inserting "963AA," after "sections" (effective 1 January 2018).]

consumer credit insurance has the same meaning as in the Insurance Contracts Act 1984.

custodian , in relation to a registrable superannuation entity, has the same meaning as in the Superannuation Industry (Supervision) Act 1993.

disclosure day has the meaning given by section 962J.

fee disclosure statement has the meaning given by subsection 962H(1).

fee recipient has the meaning given by section 962C.

group life policy for members of a superannuation entity has the meaning given by subsection 963B(2).

life policy for a member of a default superannuation fund has the meaning given by subsection 963B(3).

ongoing fee has the meaning given by section 962B.

ongoing fee arrangement has the meaning given by section 962A.

[CCH Note: Definition of "policy cost" will be inserted by No 6 of 2017, s 3, Sch 1[4] (effective 1 January 2018). The definition will read:

policy cost , for a life risk insurance product, or life risk insurance products, for a year has the meaning given by subsections 963B(3B) and (3C).

]

reasonable investigation has a meaning affected by section 961D.

reasonably apparent :


(a) in Division 2 - has the meaning given by section 961C; and


(b) in Subdivision B of Division 5 - has the meaning given by section 964H.

registrable superannuation entity has the same meaning as in the Superannuation Industry (Supervision) Act 1993.

regulated superannuation fund has the same meaning as in the Superannuation Industry (Supervision) Act 1993.

renewal notice has the meaning given by subsection 962K(2).

renewal notice day has the meaning given by subsection 962L(1).

renewal period has the meaning given by subsection 962L(2).

representative of a financial services licensee has the same meaning as in Part 7.6 (see section 910A).

responsible licensee , in relation to a contravention of a provision of this Part, has the meaning given by section 961P.

RSE licensee has the same meaning as in the Superannuation Industry (Supervision) Act 1993.

volume-based shelf-space fee has a meaning affected by section 964A.


 



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