Corporations Regulations 2001

CHAPTER 10 - REPEALS, TRANSITIONAL MATTERS AND APPLICATION PROVISIONS  

PART 10.2 - TRANSITIONAL ARRANGEMENTS RELATING TO FINANCIAL SERVICES REFORM LEGISLATION  

Division 16 - Product disclosure provisions for existing products during transition period  

REGULATION 10.2.78   REFERENCES TO PRODUCT DISCLOSURE STATEMENT: OFFER PREVIOUSLY ACCEPTED  

10.2.78(1)   [ Application]  

For section 1444 of the Act, this regulation applies:

(a) if a person:

(i) made an offer to the issuer or seller of a financial product, before Division 2 of Part 7.9 of the Act began to apply to the financial product, that involves the person, or another person, acquiring the financial product; or

(ii) accepted an offer by the issuer or seller of a financial product, before Division 2 of Part 7.9 of the Act began to apply to the financial product, to issue the financial product to the person or the other person; and

(b) if the acquisition is not completed before Division 2 of Part 7.9 of the Act began to apply to the financial product.

10.2.78(2)   [ Former disclosure regimes]  

The legislation mentioned in section 1440 of the Act in relation to the kind of financial product continues to apply in relation to the financial product to the extent necessary to allow the financial product to be acquired.

10.2.78(3)   [ Limitation]  

Division 2 of Part 7.9 of the Act does not apply in relation to the financial product to the extent necessary to allow the financial product to be acquired.