Corporations Regulations 2001

SCHEDULE 10E - FORM AND CONTENT OF PRODUCT DISCLOSURE STATEMENT - SIMPLE MANAGED INVESTMENT SCHEME  

(regulation 7.9.11W )

Modifying legislative instruments

2   Minimum content of Product Disclosure Statement for simple managed investment scheme  

2(1)    
The Product Disclosure Statement must include sections which must be numbered and titled as follows:

1. About [name of responsible entity]

2. How [name of simple managed investment scheme] works

3. Benefits of investing in [name of simple managed investment scheme]

4. Risks of managed investment schemes

5. How we invest your money

6. Fees and costs

7. How managed investment schemes are taxed

8. How to apply.

2(2)    
The Statement must include:

(a) a table of contents that sets out the titles mentioned in subclause (1); and

(b) the telephone number of the responsible entity for the simple managed investment scheme to enable a person who invests in the simple managed investment scheme to request a copy of the following under regulation 7.9.11Z :

(i) a copy of the Statement; and

(ii) a copy of a matter in writing that is applied, adopted or incorporated by the Statement.

2(3)    
The Statement must:

(a) advise a person reading the Statement that:

(i) it is a summary of significant information and contains a number of references to important information (each of which forms part of the Statement); and

(ii) persons should consider that information before making a decision about the simple managed investment scheme; and

(iii) the information provided in the Statement is general information only and does not take account of the person ' s personal financial situation or needs; and

(iv) the person should obtain financial advice tailored to the person ' s personal circumstances; and

(b) display the advice:

(i) at or near the beginning of the document; and

(ii) in a prominent position and style.

2(4)    
The Statement:

(a) may include additional sections after sections 1 to 8; and

(b) may include other information;

to an extent that does not have the effect of contravening subclause 1(1).

2(5)    
The Product Disclosure Statement does not need to indicate that a particular requirement is not applicable to the simple managed investment scheme.

Note The Act, as modified in accordance with Subdivision 4.2C of Division 4 of Part 7.9, requires information to be included in the Product Disclosure Statement only to the extent to which the requirement is applicable to the simple managed investment scheme.