CORPORATIONS REGULATIONS 2001 - REG 10.2.78 References to Product Disclosure Statement: offer previously accepted

CORPORATIONS REGULATIONS 2001 - REG 10.2.78

  (1)   For section   1444 of the Act, this regulation applies:

  (a)   if a person:

  (i)   made an offer to the issuer or seller of a financial product, before Division   2 of Part   7.9 of the Act began to apply to the financial product, that involves the person, or another person, acquiring the financial product; or

  (ii)   accepted an offer by the issuer or seller of a financial product, before Division   2 of Part   7.9 of the Act began to apply to the financial product, to issue the financial product to the person or the other person; and

  (b)   if the acquisition is not completed before Division   2 of Part   7.9 of the Act began to apply to the financial product.

  (2)   The legislation mentioned in section   1440 of the Act in relation to the kind of financial product continues to apply in relation to the financial product to the extent necessary to allow the financial product to be acquired.

  (3)   Division   2 of Part   7.9 of the Act does not apply in relation to the financial product to the extent necessary to allow the financial product to be acquired.