advice
means, subject to subsection (3)(a), any recommendation, guidance or proposal of a financial nature furnished, by any means or medium, to any client or group of clients -
| a) |
in respect of the purchase of any financial product; or |
| b) |
in respect of the investment in any financial product; or |
| c) |
on the conclusion of any other transaction, including a loan or cession ,aimed at the incurring of any liability or the acquisition of any right or benefit in respect of any financial product; or |
| d) |
on the variation of any term or condition applying to a financial product , on the replacement of any such product, or on the termination of any purchase of or investment in any such product, and irrespective of whether or not such advice – |
| i) |
is furnished in the course of or incidental to financial planning in connection with the affairs of the client; or |
| ii) |
results in any such purchase, investment, transaction, variation, replacement or termination, as the case may be, being effected; |
Council for Medical Schemes Levies Act, 2000
