Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.1 - PRELIMINARY  

Division 3 - When does a person provide a financial service?  

REGULATION 7.1.33H  

7.1.33H   CERTAIN GENERAL ADVICE GIVEN BY A FINANCIAL PRODUCT ISSUER  
For subsection 766A(2) of the Act, a financial product issuer is not taken to provide a financial service if:

(a) the issuer gives advice to another person about:

(i) a particular financial product or class of financial products issued by the issuer; or

(ii) an interest in a particular financial product or a class of financial products issued by the issuer; and

(b) the advice is not personal advice; and

(c) the advice is given to the person at the same time as the issuer:

(i) advises the person that the issuer is not licensed to provide financial product advice in relation to the product, class or interest, as the case may be; and

(ii) recommends to the person that the person obtain a Product Disclosure Statement, if appropriate, and read it before making a decision to acquire the product or a product from the class of products, as the case may be; and

(iii) if it is advice about the offer, issue or sale of a financial product - notifies the person about the availability or otherwise of a cooling-off regime that applies in respect of the acquisition of the product, a product from the class of products or an interest in a product as the case may be (whether the regime is provided for by law or otherwise).