Commonwealth Numbered Regulations Commonwealth Numbered RegulationsA leviable entity forms part of the insurance product distributors sub-sector in a financial year if:
(a) the entity holds, at any time in the financial year, an Australian financial services licence that authorises the holder to deal in general insurance, life risk insurance products or investment life insurance products; and
(b) the entity does not form part of the insurance product providers sub-sector (see section 72) in the financial year.