Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.7 - FINANCIAL SERVICES DISCLOSURE  

Division 2 - Person provided with financial service as retail client to be given a Financial Services Guide  

Subdivision A - Requirement for a Financial Services Guide to be given  

SECTION 941F  

941F   OBLIGATION TO GIVE UPDATED FINANCIAL SERVICES GUIDE  

If:

(a)    the Financial Services Guide is given to the client before the financial service is provided; and

(b)    the following conditions are satisfied:

(i) there is a change in circumstances before the service is provided, and the Financial Services Guide does not contain the information it would be required to contain if it were given to a person immediately after that change;

(ii) the fact that the Financial Services Guide does not contain the up to date information is materially adverse from the point of view of a reasonable person deciding, as a retail client, whether to proceed to be provided with the financial service;

the providing entity must, before the service is provided, give the client:

(c)    another Financial Services Guide that contains the up to date information before the service is provided; or

(d)    a Supplementary Financial Services Guide (see Subdivision C ) that updates the information in the Financial Services Guide.