Commonwealth Consolidated Regulations

CORPORATIONS REGULATIONS 2001 - REG 7.9.10E

         (1)   For modified subparagraphs 1013C (1) (a) (i) and (ii) of the Act, a Product Disclosure Statement must:

                (a)    include the information and statements mentioned in Schedule 10B; and

               (b)    be in the form mentioned in Schedule 10B.

         (2)   However, if strict compliance with subregulation (1) would result in the Statement being misleading, the Statement must contain explanations or qualifications so as to make the Statement no longer misleading.

         (3)   Subregulation (2) does not require explanation or qualification of a statement the text of which is specified in subitem 4 (1), 5 (1) or 6 (1) of Schedule 10B.

         (4)   Also, ASIC may determine, in writing, that a provision of this Subdivision or of Schedule 10B:

                (a)    does not apply to a Product Disclosure Statement for an FHSA product; or

               (b)    applies to a Product Disclosure Statement for an FHSA product as if specified provisions were omitted or modified as set out in the determination.