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 5 - Ongoing requirements for product disclosure after person becomes a member  

Subdivision 5.2 - Periodic statements for retail clients for financial products that have an investment component: regulated superannuation funds, approved deposit funds and RSAs  

REGULATION 7.9.19  

7.9.19   SPECIFIC REQUIREMENTS FOR PERIODIC STATEMENTS: SUPERANNUATION FUNDS (OTHER THAN SELF MANAGED SUPERANNUATION FUNDS) AND RSAs  

For paragraph 1017D(5)(g) of the Act, a periodic statement for a superannuation product, given to a member of a superannuation fund (other than a self managed superannuation fund) or an RSA given to an RSA holder must include the following details:

(a)    the contact details of the fund or the RSA provider;

(b)    

the amount of withdrawal benefit for the member or RSA holder at the start of the reporting period;

(c)    the amount of the withdrawal benefit for the member or RSA holder at the end of the reporting period, and the method by which that amount was worked out;

(d)    the amount (if any) of the withdrawal benefit for the member or RSA holder, at the end of the reporting period, that consists of preserved benefits;

(e)    the amount (if any) of the withdrawal benefit for the member or RSA holder, at the end of the reporting period, that consists of restricted non-preserved benefits;

(f)    

the amount (if any) of the withdrawal benefit for the member or RSA holder, at the end of the reporting period, that consists of unrestricted non-preserved benefits;

(g)    

if, in providing details of the amount of the withdrawal benefit at the end of the reporting period, a deduction for fees, charges or expenses has been made or might be made - details of the deduction;

(h)    

if relevant, a statement informing the product holder that:

(i) the information about the withdrawal benefit for the product holder at the end of the reporting period is based on notional amounts that would have been attributable to the product holder if the product holder had disposed of his or her interest in the product on the date shown in the statement; and

(ii) the amounts on which that information is based might change; and

(iii) before disposing of that product, the product holder should seek information from the product issuer on the withdrawal benefit at that time;

(i)    

a statement informing the product holder that the product issuer is obliged to provide a member with any information that he or she reasonably requires to understand his or her benefit entitlements;

(j)    

a statement of the way in which a product holder is able to gain access to information in relation to his or her investment in the financial product.