Corporations Regulations 2001
CHAPTER 10
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REPEALS, TRANSITIONAL MATTERS AND APPLICATION PROVISIONS
PART 10.2
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TRANSITIONAL ARRANGEMENTS RELATING TO FINANCIAL SERVICES REFORM LEGISLATION
Division 16
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Product disclosure provisions for existing products during transition period
REGULATION 10.2.76
REFERENCES TO RETAIL CLIENT
10.2.76(1)
[
Application]
(a) the person would not have acquired the product as a retail client if the product had been acquired at the FSR commencement; or
(b) the person would not have acquired the product as a retail client if the Act had applied at the time when the product was acquired.
View history note
Hide history noteFor section 1444 of the Act, this regulation applies if a person acquired a financial product before the FSR commencement.
10.2.76(2) [ Deemed acquisition]Subject to subregulation (3), the person is taken to have acquired the financial product as a retail client.
10.2.76(3) [ Deemed acquisition]The person is taken to have acquired the product as a wholesale client if:
(a) the person would not have acquired the product as a retail client if the product had been acquired at the FSR commencement; or
(b) the person would not have acquired the product as a retail client if the Act had applied at the time when the product was acquired.
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