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CORPORATIONS REGULATIONS 2001 - REG 10.2.87A Meaning of financial product advice : exempt document or statement

CORPORATIONS REGULATIONS 2001 - REG 10.2.87A

Meaning of financial product advice : exempt document or statement

  (1)   For subsection   1409(1) of the Act, this regulation applies to a document or statement about a financial product during the transition period that ceases on the earlier of:

  (a)   the date that Part   7.9 of the Act applies to the regulated person; and

  (b)   2 years after the FSR commencement.

  (2)   The following documents and statements are prescribed under paragraph   (b) of the definition of exempt document or statement in subsection   766B(9) of the Act:

  (a)   in relation to an interest in a managed investment scheme to which Division   2 of Part   7.9 of the Act does not apply--a disclosure document lodged under Chapter   6D of the Act;

  (b)   in relation to a derivative to which Division   2 of Part   7.9 of the Act does not apply--information mentioned in section   1210 of the old Corporations Act;

  (c)   in relation to a superannuation product to which Division   2 of Part   7.9 of the Act does not apply--information mentioned in section   153 or 159 of the SIS Act or Part   2 of the SIS Regulations as in force immediately before the FSR commencement;

  (d)   in relation to an RSA product to which Division   2 of Part   7.9 of the Act does not apply--information mentioned in section   56 of the RSA Act, as in force immediately before the FSR commencement;

  (e)   in relation to an investment life insurance product or a life risk insurance product--a document or statement that contains information given in accordance with Circular G.I.1, issued by the Insurance and Superannuation Commission in February 1996.

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