21Condition—statements of advice

21 Condition—statements of advice

The condition in this section is met for an eligible financial service if, when the financial service includes providing personal advice to a person as a retail client of the provider, the provider gives each of those clients a Statement of Advice in accordance with Subdivisions C and D of Division 3 of Part 7.7 of the Act: (a) in relation to that personal advice; and (b) as if the provider were a financial services licensee for the purposes of those Subdivisions.

Note: Complying with those Subdivisions includes complying with any instruments made for the purposes of those Subdivisions.