Corporations Regulations 2001
View history note
Hide history note[ CCH Note: Pursuant to the Corporations Amendment Regulations 2001 (No 4) (SR 2001 No 319) effective 11 March 2002, Chapter 7 (Securities) comprising reg 7.1.01 - 7.15.01 and Chapter 8 (The futures industry) comprising reg 8.1.01 - 8.7.03 are replaced by a new Chapter 7 (Financial services and markets) comprising reg 7.1.01 - 7.12.01. As the subject matter of the new Chapter 7 relates to the new financial services reform regime, " inserted " has been used in the history notes for each provision, and all references to the former provisions have been removed.]
Modifying legislative instruments: The application of Pt 7.9 is affected by the ASIC Corporations (Disclosure of Fees and Costs) Instrument 2019/1070.
For other legislative instruments or class orders before 1 January 2022 that affect the application of Pt 7.9, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
For paragraph 1013D(1)(k) of the Act, the following further statements must be included in a Product Disclosure Statement that relates to a protected policy issued by a general insurer or a protected account issued by an authorised deposit-taking institution: (a) if the Product Disclosure Statement relates to a protected policy - a statement that:
(i) the person entitled to claim under insurance cover under a protected policy may be entitled to payment under the financial claims scheme; and
(b) if the Product Disclosure Statement relates to a protected account - a statement that:
(ii) access to the scheme is subject to eligibility criteria;
(i) the account-holder may be entitled to payment under the financial claims scheme; and
(c) a statement that information about the scheme can be obtained from the APRA website at http://www.fcs.gov.au.
(ii) payments under the scheme are subject to a limit for each depositor;
7.9.14D(2)
In this regulation:
authorised deposit-taking institution
has the meaning given by subsection
5(1)
of the
Banking Act 1959
.
financial claims scheme
means:
(a) the scheme provided for in Division 2AA of Part II of the Banking Act 1959 ; and
(b) the scheme provided for in Part VC of the Insurance Act 1973 .
general insurer
has the meaning given by section
11
of the
Insurance Act 1973
.
protected account
has the meaning given by subsections
5(4)
to
(7)
of the
Banking Act 1959
.
protected policy
has the meaning given by subsection
3(1)
of the
Insurance Act 1973
.
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