Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.7 - FINANCIAL SERVICES DISCLOSURE  

Division 1 - Preliminary  

SECTION 940C   HOW DOCUMENTS, INFORMATION AND STATEMENTS ARE TO BE GIVEN  

940C(1)    

For the purposes of this Part (unless a contrary intention appears), a Financial Services Guide, a Supplementary Financial Services Guide, a Statement of Advice or a Cash Settlement Fact Sheet is given by a person (the providing entity ) to another person (the client ) if (and only if):

(a)    it is:

(i) given to the client, or to the client ' s agent, personally; or

(ii) sent to the client, or the client ' s agent, at an address (including an electronic address) or fax number nominated by the client or the client ' s agent; or

(iii) otherwise made available to the client, or the client ' s agent, as agreed between the client, or the client ' s agent, and the providing entity; and

(b)    it is in printed or electronic form.

940C(2)    
For the purposes of this Part (unless a contrary intention appears), information that subsection 941C(7) or 946B(6) requires to be given by a person (the providing entity ) to another person (the client ) is given by the providing entity to the client if (and only if):

(a)    it is given to the client, or the client ' s agent, orally; or

(b)    it is in printed or electronic form and is:

(i) given to the client, or the client ' s agent, personally; or

(ii) sent to the client, or the client ' s agent, at an address (including an electronic address) or fax number nominated by the client or the client ' s agent; or

(iii) otherwise made available to the client, or the client ' s agent, as agreed between the client or the client ' s agent and the providing entity; or

(c)    it is given by some other method permitted by regulations made for the purposes of this paragraph.

940C(3)    

For the purposes of this Part (unless a contrary intention appears), information that subsection 941C(5) , paragraph 946AA(5)(b) or subsection 946B(3) or (8) requires to be given by a person (the providing entity ) to another person (the client ) is given by the providing entity to the client if (and only if) it is given to the client, or the client ' s agent, in accordance with the applicable requirements of regulations made for the purposes of this subsection.

940C(4)    
For the purposes of this Part (unless a contrary intention appears), a statement that subsection 941D(2) or 946C(2) requires to be given by a person (the providing entity ) to another person (the client ) is given by the providing entity to the client if (and only if) it is given orally to the client or the client ' s agent.

940C(5)    
For the purposes of this section, a document, information or statement to which this section applies is sent to a person at an address if, and only if:

(a)    the document, information or statement is sent to the address; and

(b)    either:

(i) the envelope or other container in which it is sent; or

(ii) the message that accompanies it;

is addressed to the person.

940C(6)    
A document, information or statement to which this section applies may be given or sent to a person ' s agent only if the agent is not acting as the person ' s agent in one of the following capacities:

(a)    a financial services licensee;

(b)    an authorised representative of a financial services licensee;

(c) (Repealed)

(d)    a person who is not required to hold an Australian financial services licence because the person is covered by:

(i) paragraph 911A(2)(j) ; or

(ii) an exemption in regulations made for the purposes of paragraph 911A(2)(k) ; or

(iii) an exemption specified by ASIC for the purposes of paragraph 911A(2)(l) ;

(e)    a person who is required to hold an Australian financial services licence but who does not hold such a licence;

(f)    an employee, director or other representative of a person referred to in paragraph (a), (b), (c), (d) or (e).

940C(7)    
The regulations may specify requirements as to:

(a)    the manner in which a document, information or statement may be given to a person; and

(b)    the presentation, structure and format for a document, information or statement that is to be given in electronic form.

The giving of the document, information or statement is not effective unless those requirements are satisfied.