Section 963L — Corporations Act 2001: Volume-based benefits presumed to be conflicted remuneration
Text of the provision Official document
It is presumed for the purposes of this Division that a benefit of one of the following kinds is conflicted remuneration, unless the contrary is proved: (a) a benefit access to which, or the value of which, is wholly or partly dependent on the total value of financial products of a particular class, or particular classes: (i) recommended by a financial services licensee, or a representative of a financial services licensee, to retail clients, or a class of retail clients; or (ii) acquired by retail clients, or a class of retail clients, to whom a financial services licensee, or a representative of a financial services licensee, provides financial product advice; (b) a benefit access to which, or the value of which, is wholly or partly dependent on the number of financial products of a particular class, or particular classes: (i) recommended by a financial services licensee, or a representative of a financial services licensee, to retail clients, or a class of retail clients; or (ii) acquired by retail clients, or a class of retail clients, to whom a financial services licensee, or a representative of a financial services licensee, provides financial product advice.
Official source: Federal Register of Legislation
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