Corporations Amendment Regulations 2002 (No. 6) (145 of 2002)

Schedule 2   Amendments commencing on 1 July 2002

[4]   Part 7.9, after Subdivision 2.5

insert

Subdivision 2.6 Product disclosure requirements for child accounts

7.9.07AA Child accounts - product disclosure statements

For paragraph 1020G (2) (a) of the Act, section 1012I of the Act is modified in relation to child accounts by inserting after subsection 1012I (2B):

'(2D) If a person (the applicant ) applies for the issue of a financial product that is a child account the person who is to issue the child account (the issuer ) must at or before the time when the child account is opened on behalf of the child give the applicant a Product Disclosure Statement in accordance with this Division.'.