CORPORATIONS REGULATIONS 2001 - REG 7.9.11M Provisions of Part 7.9 of Act that do not apply in relation to superannuation product
CORPORATIONS REGULATIONS 2001 - REG 7.9.11M
Provisions of Part 7.9 of Act that do not apply in relation to superannuation product(1) For paragraph 1020G(1)(b) of the Act, Subdivision D of Division 2 of Part 7.9 of the Act does not apply in relation to a superannuation product.
(a) proposes to prepare a Product Disclosure Statement or a Supplementary Product Disclosure Statement for a superannuation product during the period commencing on the day on which this subregulation commences and ending on 22 June 2012; and
(b) is permitted to decide, in accordance with regulation 4 of the Corporations Amendment Regulations 2010 (No. 5) , to prepare the Product Disclosure Statement or Supplementary Product Disclosure Statement in accordance with Subdivision D of Division 2 of Part 7.9 of the Act; and
(c) prepares the Product Disclosure Statement or Supplementary Product Disclosure Statement in accordance with that Subdivision;
the preparation of the Product Disclosure Statement or Supplementary Product Disclosure Statement is taken to be full compliance with all requirements of Part 7.9 of the Act and these Regulations relating to how the Product Disclosure Statement or Supplementary Product Disclosure Statement is to be prepared.
Note: The Corporations Amendment Regulations 2010 (No. 5)
amended these Regulations to make new arrangements for the preparation of
Product Disclosure Statements for superannuation products, including
identifying that Subdivision D of Division 2 of Part 7.9 of the
Act would no longer apply. However, the transitional arrangements in
subregulations 4(1) to (7) of the Amendment Regulations allowed certain
persons to decide to rely on Subdivision D of Division 2 of Part
7.9 of the Act for the purpose of preparing the Product Disclosure Statement.