Non‑monetary benefit given in certain circumstances not conflicted remuneration
(1) A non‑monetary benefit given to a financial services licensee, or a representative of a financial services licensee, who provides financial product advice to persons as retail clients is not conflicted remuneration in the circumstances set out in any of the following paragraphs: (a) the benefit is given to the licensee or representative solely in relation to a general insurance product; (b) each of the following is satisfied: (i) the benefit is of less than an amount prescribed; (ii) identical or similar benefits are not given on a frequent or regular basis; (c) the benefit satisfies each of the following: (i) the benefit has a genuine education or training purpose; (ii) the benefit is relevant to the carrying on of a financial services business; (iii) the benefit complies with regulations made for the purposes of this subparagraph; (d) the benefit satisfies each of the following: (i) the benefit is the provision of information technology software or support; (ii) the benefit is related to the provision of financial product advice to persons as retail clients in relation to the financial products issued or sold by the benefit provider; (iii) the benefit complies with regulations made for the purposes of this subparagraph; (f) the benefit is a prescribed benefit or is given in prescribed circumstances. (2) The regulations may prescribe circumstances in which, despite subsection (1), all or part of a benefit is to be treated as conflicted remuneration. (3) This section applies despite section 963A and any regulations made for the purposes of section 963AA.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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