Regulatory Alerts2010-06-29 | RG-195RG 195 Group purchasing bodies for insurance and risk products
The Australian Securities and Investments Commission issued Regulatory Guide 195 to guide group purchasing bodies arranging risk management products for others without issuing products or providing financial advice. The document explains the relief granted by Class Order CO 08/1 from the licensing and managed investments provisions of the Corporations Act 2001. It outlines the requirements group purchasing bodies must meet to benefit from this relief and notes that applications for relief should be submitted through the ASIC Regulatory Portal.
Issued 29 June 2010
This is a guide for group purchasing bodies—that is, persons who arrange or hold risk management products to cover other persons’ risks but do not:
issue risk management products (other than interests in a risk management scheme); or
provide any financial product advice (other than as a result of providing certain general information about the risk management product).
This guide explains the relief ASIC has given in Class Order [CO 08/1]
Group purchasing bodies from the licensing and managed investments provisions (Chs 7 and 5C) of the Corporations Act 2001 , and what group purchasing bodies must do in order to receive the benefit of this relief.
Note: From 27 July 2020, applications for relief should be submitted through the ASIC Regulatory Portal . For more information, see how you apply for relief .
Download RG 195 (PDF 362 KB)