Information and advice about voting
7.1.30 Information and advice about voting
For paragraph 766A(2)(b) of the Act, a circumstance in which a person is taken not to provide a financial service within the meaning of paragraph 766A(1)(a) of the Act is that:
the service provided by the person consists only of advising another person in relation to the manner in which:
voting rights attaching to securities; or
voting rights attaching to interests in managed investment schemes;
may or should be exercised; and
the advice is not intended to influence any decision in relation to financial products other than a decision about voting; and
the advice could not be reasonably be regarded as intended to influence a decision in relation to financial products, other than a decision about voting; and
the advice does not relate to a vote that relates to a dealing in financial products.
A service that includes advice which is intended to influence the decision to acquire securities in another company would be not provided in circumstances covered by this regulation.
This Act’s bill:Explanatory statement
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