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Schedule 11—Consumer protections in relation to financial products

Schedule 11 Consumer protections in relation to financial products

   

Australian Securities and Investments Commission Act 2001

1  Subsection 12BA(1) (definition of unsolicited financial products )

Repeal the definition.

2  After subsection 12BAB(1)

Insert:

       (1AA)  Without limiting subsection (1), for the purposes of this Division, a financial product is a financial service .

3  Subparagraph 12BEA(1)(e)(iii)

Omit “or financial products”.

4  Subsection 12DM(1)

Omit “or unsolicited financial products”.

5  Paragraph 12DM(1AA)(a)

Omit “or unsolicited financial products”.

6  Section 12DMA

Omit “or unsolicited financial products”.

7  Subsection 12DMB(1)

Omit “or financial products”.

8  Paragraph 12DMB(2)(a)

Omit “or financial products”.

9  Subsection 12DMB(4)

Omit “or financial products”.