12Exposure limits for exempt financial services—total limit for products for each retail client

12 Exposure limits for exempt financial services—total limit for products for each retail client

(1) The provider meets the condition in this section for an eligible financial service if the provider ensures that each of the provider’s retail clients may commit a total of no more than $10,000 to financial products as the result of: (a) the provision of the eligible financial service during that service’s testing period; and (b) the provision of any other eligible financial service, for which the provider has or has had an exemption under section 6, during that other service’s testing period. (2) However, subsection (1) does not apply to any of the following financial products: (a) an eligible general insurance product; (b) an eligible life risk insurance product; (c) an eligible superannuation product; (d) a deposit‑taking facility made available by an ADI in the course of its banking business, other than an RSA; (e) a non‑cash payment facility made available by an ADI in the course of its banking business.