Corporations Amendment Regulations 2010 (No. 5) (135 of 2010)
Schedule 1 Amendments
[16] Schedule 10A, after Part 5
insert
Part 5A Modifications for margin loan
5A.1 Section 1011B, after definition of regulated person
insert
Regulations means the Corporations Regulations 2001.
5A.2 Subsection 1013C (1)
substitute
(1) A Product Disclosure Statement for a margin loan to which Subdivision 4.2A of Division 4 of Part 7.9 of the Corporations Regulations 2001 applies must:
(a) include the statements and information required by regulations made for this paragraph; and
(b) be in the form required by regulations made for this paragraph.
(1A) If a law other than this Act or regulations under this Act requires the responsible person for the Product Disclosure Statement:
(a) to give, disclose or provide a matter; or
(b) to include a matter in the Statement;
the Statement may make provision for the matter by applying, adopting or incorporating the matter as in force at a particular time or as in force from time to time.
(1B) In addition to subsection (1A), a Product Disclosure Statement may make provision for a matter contained in writing by applying, adopting or incorporating the matter as in force at a particular time or as in force from time to time.
(1C) If a Product Disclosure Statement applies, adopts or incorporates a matter contained in writing:
(a) the applied, adopted or incorporated matter forms part of the Statement; and
(b) the responsible person for the Statement is not required to give the document which provides for the matter to a person (as part of giving the Statement or later) if that person has not asked for the document; and
(c) the responsible person for the Statement must give the document which provides for the matter to a person if that person asks for the document.
(1D) The regulations may prescribe requirements for applying, adopting, or incorporating a matter contained in writing in a Product Disclosure Statement.
(1E) A Product Disclosure Statement may refer to information, other than information to which subsection (1A) or (1B) applies, that is set out in another document; and
(1F) If the Product Disclosure Statement refers to other information as permitted by subsection (1E), that information does not form part of the Statement.
Note Although the information mentioned in subsection (1F) would not form part of the Product Disclosure Statement, it would be subject to requirements imposed by the Act or these Regulations such as the prohibition on making misleading or deceptive statements.
5A.3 Section 1013D
omit
5A.4 Section 1013E
omit
5A.5 Section 1013L
substitute
1013L When Product Disclosure document may consist of 2 or more documents
A Product Disclosure Statement may consist of 2 or more documents, only if:
(a) one of the documents is a document that complies with the requirements for a Product Disclosure Statement under this Act and the Regulations; and
(b) the other document or documents contain a matter in writing that is applied, adopted or incorporated by the document mentioned in paragraph (a).
5A.6 Subdivision D, Division 2
omit
5A.7 Subsection 1015D (3)
omit
Part 5B Modifications for superannuation products to which Subdivision 4.2B of Division 4 of Part 7.9 applies
5B.1 Section 1011B, after definition of regulated person
insert
Regulations means the Corporations Regulations 2001.
5B.2 Subsection 1013C (1)
substitute
(1) A Product Disclosure Statement for a superannuation product to which Subdivision 4.2B of Division 4 of Part 7.9 of the Corporations Regulations 2001 applies must:
(a) include the statements and information required by regulations made for this paragraph; and
(b) be in the form required by regulations made for this paragraph.
(1A) If a law other than this Act or regulations under this Act requires the responsible person for the Product Disclosure Statement:
(a) to give, disclose or provide a matter; or
(b) to include a matter in the Statement;
the Statement may make provision for the matter by applying, adopting or incorporating the matter as in force at a particular time or as in force from time to time.
(1B) In addition to subsection (1A), a Product Disclosure Statement may make provision for a matter contained in writing by applying, adopting or incorporating the matter as in force at a particular time or as in force from time to time.
(1C) If a Product Disclosure Statement applies, adopts or incorporates a matter contained in writing:
(a) the applied, adopted or incorporated matter forms part of the Statement; and
(b) the responsible person for the Statement is not required to give the document which provides for the matter to a person (as part of giving the Statement or later) if that person has not asked for the document; and
(c) the responsible person for the Statement must give the document which provides for the matter to a person if that person asks for the document.
(1D) The regulations may prescribe requirements for applying, adopting, or incorporating a matter contained in writing in a Product Disclosure Statement.
(1E) A Product Disclosure Statement may refer to information, other than information to which subsection (1A) or (1B) applies, that is set out in another document; and
(1F) If the Product Disclosure Statement refers to other information as permitted by subsection (1E), that information does not form part of the Statement.
Note Although the information mentioned in subsection (1F) would not form part of the Product Disclosure Statement, it would be subject to requirements imposed by the Act or these Regulations such as the prohibition on making misleading or deceptive statements.
5B.3 Section 1013D
omit
5B.4 Section 1013E
omit
5B.5 Section 1013L
substitute
1013L When Product Disclosure Statement may consist of 2 or more documents
A Product Disclosure Statement may consist of 2 or more documents only if:
(a) one of the documents is a document that complies with the requirements for a Product Disclosure Statement under this Act and the Regulations; and
(b) the other document or documents contain a matter in writing that is applied, adopted or incorporated by the document mentioned in subparagraph (a).
5B.6 Subsection 1015D (3)
omit
Part 5C Modifications for simple managed investment scheme
5C.1 Section 1011B, after definition of regulated person
insert
Regulations means the Corporations Regulations 2001.
5C.2 Subsection 1013C (1)
substitute
(1) A Product Disclosure Statement for a simple managed investment scheme to which Subdivision 4.2C of Division 4 of Part 7.9 of the Corporations Regulations 2001 applies must:
(a) include the statements and information required by regulations made for this paragraph; and
(b) be in the form required by regulations made for this paragraph; and
(c) relate only to 1 simple managed investment scheme.
(1A) If a law other than this Act or regulations under this Act requires the responsible person for the Product Disclosure Statement:
(a) to give, disclose or provide a matter; or
(b) to include a matter in the Statement;
the Statement may make provision for the matter by applying, adopting or incorporating the matter as in force at a particular time or as in force from time to time.
(1B) In addition to subsection (1A), a Product Disclosure Statement may make provision for a matter contained in writing by applying, adopting or incorporating the matter as in force at a particular time or as in force from time to time.
(1C) If a Product Disclosure Statement applies, adopts or incorporates a matter contained in writing:
(a) the applied, adopted or incorporated matter forms part of the Statement; and
(b) the responsible person for the Statement is not required to give the document which provides for the matter to a person (as part of giving the Statement or later) if that person has not asked for the document; and
(c) the responsible person for the Statement must give the document which provides for the matter to a person if that person asks for the document.
(1D) The regulations may prescribe requirements for applying, adopting, or incorporating a matter contained in writing in a Product Disclosure Statement.
(1E) A Product Disclosure Statement may refer to information, other than information to which subsection (1A) or (1B) applies, that is set out in another document; and
(1F) If the Product Disclosure Statement refers to other information as permitted by subsection (1E), that information does not form part of the Statement.
Note Although the information mentioned in subsection (1F) would not form part of the Product Disclosure Statement, it would be subject to requirements imposed by the Act or these Regulations such as the prohibition on making misleading or deceptive statements.
5C.2 Section 1013D
omit
5C.3 Section 1013E
omit
5C.4 Section 1013L
substitute
1013L When Product Disclosure Statement may consist of 2 or more documents
A Product Disclosure Statement may consist of 2 or more documents only if:
(a) one of the documents is a document that complies with the requirements for a Product Disclosure Statement under this Act and the Regulations; and
(b) the other document or documents contain a matter in writing that is applied, adopted or incorporated by the document mentioned in subparagraph (a).
5C.5 Subsection 1015D (3)
omit