Corporations Regulations 2001

SCHEDULE 10A - MODIFICATIONS OF PART 7.9 OF THE ACT  

(regulations 7.9.02 , 7.9.04 , 7.9.05 , 7.9.06 , 7.9.09C , 7.9.11C , 7.9.11N , 7.9.11V , 7.9.12 , 7.9.24 , 7.9.27 , 7.9.30 , 7.9.43 , 7.9.47 , 7.9.51 , 7.9.56 , 7.9.60 , 7.9.61 , 7.9.63 , 7.9.73 and 8.4.02 )

PART 18 - MODIFICATION OF PART 7.9 OF THE ACT - NEW ZEALAND OFFER DOCUMENTS REPLACE PRODUCT DISCLOSURE STATEMENTS WHERE AN OFFER RELATES TO INTERESTS IN A NEW ZEALAND MANAGED INVESTMENT SCHEME  

SECTION 18.1  

18.1    

After subsection 1012D(9D)

insert

(9E) Recommendation, issue or sale situation - New Zealand mutual recognition scheme for securities.  

In a recommendation situation, issue situation or sale situation, the regulated person does not have to give the client a Product Disclosure Statement for a financial product if:

(a) the regulated person reasonably believes that there is a recognised offer under Chapter 8 in relation to offer of the financial product; and

(b) the financial product is an interest in a managed investment scheme governed by the laws of New Zealand; and

(c) the regulated person has provided the client the documents and information required to accompany that offer by the Financial Markets Conduct Act 2013 of New Zealand and the Financial Markets Conduct Regulations 2014 of New Zealand; and

(d) the regulated person has provided the client any warning statement or details prescribed under section 1200E in relation to the offer.

(9F)
For paragraph (9E)(c), section 1015C applies to the providing of documents and information, as if the documents and information were a Statement.

(9G)
For paragraph (9E)(d), section 1015C applies to the providing of warning statement or details prescribed under section 1200E, as if the warning statement or details were a Statement.