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 3 - MODIFICATIONS RELATING TO INSURANCE OPTIONS UNDER CONTRACT ASSOCIATED WITH SUPERANNUATION INTEREST  

SECTION 3.1  

3.1    
After subsection 1012D(9B)

insert

(9C) Insurance options.  

A product issuer does not have to give a Product Disclosure Statement to a person if:

(a) a product holder seeks to change the coverage of insurance options under a contract associated with a superannuation interest; and

(b) information in relation to the change of insurance options has not already been given in a periodic statement or in accordance with other periodic reporting requirements under Division 3.

(9D)
If subsection (9C) applies:

(a) the product issuer must ensure that the product holder has sufficient information to enable the product holder to make an informed decision; and

(b) that subsection does not prevent the product issuer from complying with paragraph (a) by giving the product holder a Product Disclosure Statement.