28VHNon‑monetary benefit given in certain circumstances not conflicted remuneration

#### 28VH Non‑monetary benefit given in certain circumstances not conflicted remuneration (1) This regulation is made for the purposes of paragraph 158NA(b) of the Act. Infrequent benefit valued less than $300 (2) A non‑monetary benefit given to a licensee, or representative of a licensee, who provides credit services to consumers is not conflicted remuneration if: (a) the value of the benefit is less than $300 for each licensee, or each representative of a licensee, who is the final recipient of the benefit; and (b) identical or similar benefits are not given on a frequent or regular basis. Education or training (3) A non‑monetary benefit given to a licensee, or representative of a licensee, who provides credit services to consumers is not conflicted remuneration if: (a) the benefit has a genuine education or training purpose; and (b) the benefit is relevant to the carrying on of a business of providing credit services to consumers; and (c) for a benefit that is the provision of an education or training course—the requirements in subregulation (4) are satisfied in relation to the course; and (d) for a benefit that is not the provision of an education or training course—the dominant purpose of the benefit is education and training. (4) For the purposes of paragraph (3)(c), the requirements are: (a) education or training activities for the professional development of the participants in the course must take up at least: (i) 75% of the time spent on the course; or (ii) 6 hours a day; whichever is the lesser; and (b) the costs of: (i) the participant’s travel and accommodation relating to the course; and (ii) the participant attending events and functions held in conjunction with the course; must be paid for by one or more of the following: (iii) the participant; (iv) the participant’s employer or licensee; (v) if a mortgage intermediary provides services to the participant, or the participant’s employer or licensee, to assist in carrying on a business of providing credit assistance to consumers—the mortgage intermediary. > Note: An example for subparagraph (b)(ii) is the cost of day trips or dinners. (5) In this regulation: > education or training course includes a conference or seminar. IT support (6) A non‑monetary benefit given to a licensee, or representative of a licensee, who provides credit services to consumers is not conflicted remuneration if: (a) the benefit is the provision of information technology software or support; and (b) the benefit is related to the provision of credit services to consumers in relation to credit contracts with the benefit provider. Benefit given by a consumer (7) A non‑monetary benefit given to a licensee, or representative of a licensee, is not conflicted remuneration if the benefit is given: (a) by a consumer to the licensee or representative; and (b) in relation to a credit service provided by the licensee or representative to the consumer in relation to a credit contract.