RG 195 Group purchasing bodies for insurance and risk products
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 91AV); 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.