Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.9 - FINANCIAL PRODUCT DISCLOSURE AND OTHER PROVISIONS RELATING TO ISSUE AND SALE OF FINANCIAL PRODUCTS  

Division 4A - General  

REGULATION 7.9.15DA   STATEMENT OR INFORMATION NOT INCLUDED IN A PRODUCT DISCLOSURE STATEMENT  

7.9.15DA(1)    

For paragraph 1020G(1)(c) of the Act, and subject to subregulation (1A) and (4) , a responsible person is not required to include a statement or information mentioned in Part 7.9 of the Act in a Product Disclosure Statement if:

(a)    the statement or information is in writing and is publicly available in a document other than the Product Disclosure Statement; and

(b)    the Product Disclosure Statement:

(i) refers to the statement or information; and

(ii) provides sufficient details about the statement or information to enable a person:

(A) to identify by a unique identifier the document, or part of the document, that contains the statement or information; and

(B) to locate the statement or information; and

(C) to decide whether or not to read the statement or information or obtain a copy of the statement or information; and

(iii) states that a copy of the statement or information may be obtained from the responsible person on request, at no charge; and

(c)    the statement or information is not a statement or information that is in a Short-Form Product Disclosure Statement.

7.9.15DA(1A)    

This regulation does not apply if the Product Disclosure Statement is for:

(a)    

a standard margin lending facility; or

(b)    

a superannuation product to which Subdivision 4.2B of Division 4 of this Part applies; or

(c)    

a simple managed investment scheme to which Subdivision 4.2C of Division 4 of this Part applies; or

(d)    

a simple sub-fund product to which Subdivision 4.2D of Division 4 of this Part applies.

7.9.15DA(2)    
If the client requests a copy of the statement or information that the responsible person is not required to include in accordance with subregulation (1) , the responsible person must provide the copy as soon as practicable, at no charge.

7.9.15DA(3)    
If a statement or information is not included in a Product Disclosure Statement because of subregulation (1) , the statement or information is taken to be included in the Product Disclosure Statement.

7.9.15DA(4)    
Despite subregulation (3) , if a responsible person does not include a statement or information in a Product Disclosure Statement in accordance with subregulation (1) , the responsible person must include the following information in the Product Disclosure Statement:

(a)    for information required by paragraph 1013D(1)(b) or (f) of the Act - a description, in summary, of the purpose and key features of the product;

(b)    for information required by paragraph 1013D(1)(c) of the Act - a description, in summary, of the key risks of the product;

(c)    the information required by:

(i) paragraphs 1013D(1)(a) , (g) and (i) of the Act; and

(ii) Divisions 1 and 2 of Part 2 of Schedule 10 ; and

(iii) paragraphs 209(e) and (h) of Division 4 of Part 2 of Schedule 10 ; and

(iv) Divisions 5 and 6 of Part 2 of Schedule 10 ;

(d)    the Consumer Advisory Warning in Division 7 of Part 2 of Schedule 10 .