Corporations Amendment Regulation 2012 (No. 8)1

Select Legislative Instrument 2012 No. 234

I, QUENTIN BRYCE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulation under the Corporations Act 2001.

Dated 27 September 2012

QUENTIN BRYCE

Governor-General

By Her Excellency’s Command

WILLIAM RICHARD SHORTEN

Minister for Financial Services and Superannuation

1 Name of regulation

  This regulation is the Corporations Amendment Regulation 2012 (No. 8).

2 Commencement

  This regulation commences on the day after it is registered.

3 Amendment of Corporations Regulations 2001

  Schedule 1 amends the Corporations Regulations 2001.

Schedule 1 Amendment

(section 3)

[1] After regulation 7.7A.15

insert

7.7A.16 Application of ban on conflicted remuneration

 (1) This regulation:

 (a) is made for subsection 1528 (2) of the Act; and

 (b) prescribes circumstances in which Division 4 of Part 7.7A of the Act does not apply to a benefit given to a financial services licensee or a representative of a financial services licensee.

 (2) Division 4 does not apply to the benefit if the benefit is given:

 (a) by a platform operator; and

 (b) under an arrangement that was entered into before the application day, within the meaning of subsection 1528 (4) of the Act.

Note   See subsection 1526 (1) of the Act for the definition of platform operator.

Note

1. All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See www.comlaw.gov.au.