Treasury Laws Amendment (Delivering Better Financial Outcomes) Regulations 2024 (F2024L01152)

Schedule 1   Amendments

Part 3   Financial Services Guide

Corporations Regulations 2001

42   After regulation 7.7.10AD

Insert:

7.7.10ADA Website disclosure information

For the purposes of paragraph 951C(1)(c) of the Act, Part 7.7 of the Act applies as if section 943N of the Act were omitted and the following section were substituted:

"943N Record of advice must be provided in certain circumstances

If:

(a) the website disclosure information 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))."