CORPORATIONS REGULATIONS 2001 - REG 10.2.49 Obligation to give Financial Services Guide in relation to existing clients

CORPORATIONS REGULATIONS 2001 - REG 10.2.49

  (1)   For section   1444 of the Act, section   941D of the Act is taken not to require a person to give a client a Financial Services Guide in relation to a financial service (the new financial service ) within the period specified in that section if, in the period of 6 months ending on the day immediately before Part   7.7 of the Act first applies to the person in relation to the provision of financial services of the same kind as the new financial service, the person had provided a financial service to the client of the same kind as the new financial service.

  (2)   For subregulation   (1), section   941D of the Act is also taken to require the person to give the client the Financial Services Guide:

  (a)   as soon as is reasonably practicable; and

  (b)   in any event, within the period of 14 days starting on the day on which the person would have been required by section   941D of the Act to provide a Financial Services Guide if subregulation   (1) did not apply.

  (3)   This regulation ceases to apply in relation to the person at the end of 14 days after the day on which Part   7.7 of the Act first applies to the person in relation to the provision of financial services of the same kind as the new financial service.