Corporations Regulations 2001

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

(regulation 7.9.11W )

Modifying legislative instruments

4   Contents of section 2 (How (name of simple managed investment scheme) works)  

4(1)    
Section 2 of the Product Disclosure Statement must describe, in the form of a summary:

(a) how the simple managed investment works; and

(b) the interests that members acquire.

4(2)    
Section 2 must:

(a) if applicable - describe, in the form of a summary, the minimum investment amounts; and

(b) provide information about the structure of the simple managed investment scheme; and

(c) state, in general terms, that the price of interests will vary as the market value of assets in the simple managed investment scheme rises or falls; and

(d) describe, in the form of a summary, how members can increase or decrease their investment by acquiring interests or disposing of interests; and

(e) state, in general terms, that in some circumstances, such as when there is a freeze on withdrawals, members may not be able to withdraw their funds within the usual period upon request; and

(f) describe the frequency of distributions and explain how distributions are calculated.

4(3)    
The responsible entity:

(a) may provide more detailed information on the acquisition and disposal of interests; and

(b) may provide the information by applying, adopting or incorporating a matter in writing.