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 10.2.87A   MEANING OF FINANCIAL PRODUCT ADVICE : EXEMPT DOCUMENT OR STATEMENT  

10.2.87A(1)   [ Application]  

For subsection 1409(1) of the Act, this regulation applies to a document or statement about a financial product during the transition period that ceases on the earlier of:

(a) the date that Part 7.9 of the Act applies to the regulated person; and

(b) 2 years after the FSR commencement.

10.2.87A(2)   [ Exempt documents and statements]  

The following documents and statements are prescribed under paragraph (b) of the definition of exempt document or statement in subsection 766B(9) of the Act:

(a) in relation to an interest in a managed investment scheme to which Division 2 of Part 7.9 of the Act does not apply - a disclosure document lodged under Chapter 6D of the Act;

(b) in relation to a derivative to which Division 2 of Part 7.9 of the Act does not apply - information mentioned in section 1210 of the old Corporations Act;

(c) in relation to a superannuation product to which Division 2 of Part 7.9 of the Act does not apply - information mentioned in section 153 or 159 of the SIS Act or Part 2 of the SIS Regulations as in force immediately before the FSR commencement;

(d) in relation to an RSA product to which Division 2 of Part 7.9 of the Act does not apply - information mentioned in section 56 of the RSA Act, as in force immediately before the FSR commencement;

(e) in relation to an investment life insurance product or a life risk insurance product - a document or statement that contains information given in accordance with Circular G.I.1, issued by the Insurance and Superannuation Commission in February 1996.