Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.7 - FINANCIAL SERVICE DISCLOSURE  

Division 3 - Statement of Advice  

REGULATION 7.7.10AD   FINANCIAL SERVICES GUIDE  

7.7.10AD(1)   Financial services guide given by authorised representative - contents of guide.  

For paragraph 951C(1)(c) of the Act, Part 7.7 of the Act applies as if paragraph 942C(2)(h) were omitted and the following paragraph were substituted:

" (h) if the providing entity, when acting as representative of the authorising licensee or any of the authorising licensees, provides further advice - a statement in relation to which the following requirements are satisfied:

(i) the statement must indicate that the client may request a record of further advice that is provided to them, if they have not already been provided with a record of that advice;

(ii) the statement must set out particulars of how the client may request such a record;

(iii) any limitation in those particulars relating to the time within which the client may request such a record must be consistent with any applicable requirements in regulations made for the purposes of this subparagraph or, if there are no such applicable requirements, must be such as to allow the client a reasonable opportunity to request a record of the advice; and " .

7.7.10AD(2)   Financial services guide given by authorised representative - compliance with statement.  

For paragraph 951C(1)(c) of the Act, Part 7.7 of the Act applies as if subsection 942C(8) were omitted and the following subsection were substituted:

" (8)
If:

(a) the Financial Services Guide includes a statement to the effect that a client may request a record of further advice; and

(b) the client is provided with further advice to which that statement applies; and

(c) the client has not already been provided with a record of that advice;

the providing entity must comply with a request made in accordance with that statement for a record of that advice.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1)). "