Commonwealth Numbered Regulations Commonwealth Numbered Regulations(1) A leviable entity forms part of the licensees that provide personal advice to retail clients on only products that are not relevant financial products sub-sector in a financial year if:
(a) the entity holds, at any time in the financial year, an Australian financial services licence; and
(b) the licence authorises the holder to provide financial product advice (including a class of product advice) to retail clients, on only one or more of the following products:
(i) basic banking products;
(ii) general insurance products;
(iii) consumer credit insurance (within the meaning of section 910A of the Corporations Act 2001 ).
Entity metric
(2) The leviable entity's entity metric for the sub-sector for the financial year is the number of days in the financial year on which the entity holds a licence of the kind mentioned in subsection (1).