Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS

[ CCH Note: Pursuant to the Corporations Amendment Regulations 2001 (No 4) (SR 2001 No 319) effective 11 March 2002, Chapter 7 (Securities) comprising reg 7.1.01 - 7.15.01 and Chapter 8 (The futures industry) comprising reg 8.1.01 - 8.7.03 are replaced by a new Chapter 7 (Financial services and markets) comprising reg 7.1.01 - 7.12.01. As the subject matter of the new Chapter 7 relates to the new financial services reform regime, " inserted " has been used in the history notes for each provision, and all references to the former provisions have been removed.]

PART 7.9 - FINANCIAL PRODUCT DISCLOSURE AND OTHER PROVISIONS RELATING TO ISSUE AND SALE OF FINANCIAL PRODUCTS

Modifying legislative instruments: The application of Pt 7.9 is affected by the ASIC Corporations (Disclosure of Fees and Costs) Instrument 2019/1070.

For other legislative instruments or class orders before 1 January 2022 that affect the application of Pt 7.9, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.

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

Subdivision 5.3 - Periodic statements for retail clients for financial products that have an investment component: information for RSAs

REGULATION 7.9.28

7.9.28 INFORMATION FOR RSA: AMOUNT REACHES $10 000

View history reference

For paragraph 1017D(5)(g) of the Act, if the amount of an RSA at the end of a reporting period is at least $10 000, the periodic statement for that reporting period must include the following, in addition to the details mentioned in regulations 7.9.19 and 7.9.22 :

(a) a statement of that fact;

(b) a statement that the information contained in the periodic statement is important and that the notice must be read carefully;

(c) a statement that outlines the effect of the lower-risk/lower-return nature of the RSA on possible benefits in the long term;

(d) a suggestion that the RSA holder may wish to consider:

(i) other superannuation arrangements that may provide a greater return over the long term; and

(ii) seeking advice on alternative investment strategies that may be more suitable.

View history note

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