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 4 - Content of Product Disclosure Statements  

Subdivision 4.2C - Content of Product Disclosure Statement for simple managed investment scheme  

REGULATION 7.9.11X   REQUIREMENTS FOR REFERENCES TO INCORPORATED INFORMATION FOR SIMPLE MANAGED INVESTMENT SCHEME  

7.9.11X(1)   [ Application]  

For subsection 1013C(1D) of the Act, as modified by Part 5C of Schedule 10A, this regulation prescribes requirements for applying, adopting or incorporating, in a Product Disclosure Statement for a simple managed investment scheme to which this Subdivision applies, a matter contained in writing.

7.9.11X(2)   [ Limitation]  

A Statement may apply, adopt or incorporate a matter only if a provision of these Regulations requires or permits the matter to be applied, adopted or incorporated by the Statement.

7.9.11X(3)   [ Requirements]  

If a Product Disclosure Statement applies, adopts or incorporates a matter:

(a) the matter must be:

(i) in writing; and

(ii) clearly distinguishable from any other matters that are not applied, adopted or incorporated; and

(iii) publicly available in a document other than the Statement; and

(b) the responsible person for the Statement must identify the matter by:

(i) including in the Statement a concise description of the matter; and

(ii) ensuring that the reference to the matter is clearly distinguishable from the other contents of the Statement; and

(c) the responsible person for the Statement must:

(i) identify each version of the matter (by including the date on which the version was prepared) so that a person who, at a particular time, is considering a simple managed investment scheme to which this Subdivision applies can identify the version that is relevant to the simple managed investment scheme at that time; and

(ii) state the date on which the version was prepared in a prominent position at or near the front of the version; and

(d) the responsible person for the Statement must ensure that a person who is relying on the Statement is able to have access to:

(i) the matter; or

(ii) if there is more than 1 version of the matter - each version;

reasonably easily and reasonably quickly.

7.9.11X(4)   [ Required statements for PDS]  

The responsible person for the Product Disclosure Statement must also ensure that the Statement includes the statements in the following table relating to the matter, and sets them out in each place at which the matter has been applied, adopted or incorporated.

Item	Statement
1	You should read the important information about [the subject] before making a decision. Go to [location of the matter that has been applied, adopted or incorporated]
2	The material relating to [matter] may change between the time when you read this Statement and the day when you acquire the product

7.9.11X(5)   [ Required statement for incorporated documents]  

The responsible person for the Product Disclosure Statement must also ensure that each document mentioned in subregulation (3) includes the statement in the following table relating to the matter.

Item	Statement
1	The information in this document forms part of the Product Disclosure Statement [identification by name, date and version (if applicable) of each Statement]

7.9.11X(6)   [ Clarification]  

For the avoidance of doubt:

(a) the giving of a Product Disclosure Statement to which this Subdivision applies is taken to be the giving of every matter that is applied, adopted or incorporated in accordance with subregulations (1) to (5); and

(b) if a document mentioned in subparagraph (3)(a)(iii) refers to more than one PDS, the document:

(i) must include a statement to the effect that the information in the document forms part of the Product Disclosure Statement offered by the responsible entity; but

(ii) is not required to name each Product Disclosure Statement of which it forms part.

7.9.11X(7)   [ When incorporated information taken as given]  

If the Product Disclosure Statement applies, adopts or incorporates a matter, the information dealing with the matter is taken to have been given to a person on the day on which the product is acquired.