Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteCCH note - modifying legislative instruments: The application of Pt 7.9 is affected by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (Periodic Statement Relief for Quoted Securities) Instrument 2024/14; the ASIC Corporations (mFund) Instrument 2024/18; and the ASIC Corporations (Investor Directed Portfolio Services) Instrument 202 3/6 69 (as amended by ASIC Corporations (Amendment) Instrument 2024/554).
The application of Pt 7.9 is also modified by the ASIC Corporations (Disclosure of Fees and Costs) Instrument 2019/1070; the Class Order 1 [frac412] 62: Relief for 31 Day Notice Term Deposits; and the ASIC Corporations, Credit and Superannuation (Internal Dispute Resolution) Instrument 2020/98.
For other legislative instruments or class orders before 1 January 2022 that affect the application of Pt 7.9, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
CCH note - modifying legislative instruments: The application of Division 5 is affected by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (Shorter PDS and Delivery of Accessible Financial Products Disclosure by Platform Operators and Superannuation Trustees) Instrument 2022/497; the ASIC Corporations (Investor Directed Portfolio Services Provided Through a Registered Managed Investment Scheme) Instrument 202 3/6 68; and the ASIC Corporations (Discretions for Setting the Issue Price and Withdrawal Price of Interests in Managed Investment Schemes) Instrument 202 3/6 93.
For legislative instruments or class orders before 1 January 2022 that affect the application of Division 5, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
CCH note: This provision is modified by legislative instruments. See the CCH note at the end of the provision for details.
Subject to subsection (2) , this Division applies if: (a) a financial product of one of the following classes is provided in this jurisdiction to a person as a retail client after the commencement of this Chapter:
(i) risk insurance products;
(ii) investment life insurance products;
(iii) managed investment products;
(iiia) foreign passport fund products;
(iv) superannuation products;
(b) the product is provided to the person:
(v) RSAs; and
(i) by way of issue; or
(ii) by way of sale pursuant to an offer to which section 1012C applies.
1019A(2)
The regulations may do any or all of the following: (a) provide that a specified subclass of financial products that would otherwise be covered by a subparagraph of paragraph (1)(a) are excluded from that subparagraph; (b) provide additional requirements to be satisfied before this Division applies in relation to a class or subclass of financial products; (c) provide that this Division does not apply in relation to the provision of a financial product in specified circumstances.
1019A(3)
In this Division: (a) the person referred to in paragraph (1)(a) is the client ; and (b) the person who issues or sells the product to the client is the responsible person .
CCH note - modifying legislative instruments: Section 1019A is modified by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (Shorter PDS and Delivery of Accessible Financial Products Disclosure by Platform Operators and Superannuation Trustees) Instrument 2022/497; the ASIC Corporations (Investor Directed Portfolio Services Provided Through a Registered Managed Investment Scheme) Instrument 202 3/6 68; and the ASIC Corporations (Discretions for Setting the Issue Price and Withdrawal Price of Interests in Managed Investment Schemes) Instrument 202 3/6 93.
For modifying legislative instruments or class orders before 1 January 2022, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
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