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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 5 - Other banned remuneration    View history reference

Subdivision A - Volume-based shelf-space fees    View history reference

SECTION 964  APPLICATION  

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964(1)  

This Subdivision applies if:


(a) a financial services licensee or an RSE licensee (the platform operator) is, or offers to be, the provider of a custodial arrangement; and


(b) a monetary or non-monetary benefit is given, or to be given, by a financial services licensee or an RSE licensee (the funds manager) to the platform operator; and


(c) a financial product to which the custodial arrangement relates is a financial product in which the funds manager deals (the funds manager's financial product).

964(2)  

In this Subdivision:

custodial arrangement has the same meaning as it has in subsection 1012IA(1), subject to subsection (3).

provider has the same meaning as in subsection 1012IA(1).

964(3)  

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The definition of custodial arrangement in subsection 1012IA(1) is to be read as if the reference in that definition to an instruction included a reference to:


(a) a direction of the kind mentioned in paragraph 58(2)(d) or (da) of the Superannuation Industry (Supervision) Act 1993 that will involve the acquisition of a particular financial product, or a financial product of a particular kind; and


(b) a direction of the kind mentioned in subsection 52B(4) of the Superannuation Industry (Supervision) Act 1993 that will involve the acquisition of a particular financial product, or a financial product of a particular kind.

964(4)  

A reference to a kind of financial product in subsection (3) has the same meaning in that subsection as it has in the definition of custodial arrangement in subsection 1012IA(1).


 



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