Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.9 - FINANCIAL PRODUCT DISCLOSURE AND OTHER PROVISIONS RELATING TO ISSUE, SALE AND PURCHASE OF FINANCIAL PRODUCTS  

Division 2 - Product Disclosure Statements  

Subdivision C - Preparation and content of Product Disclosure Statements  

SECTION 1013F   GENERAL LIMITATIONS ON EXTENT TO WHICH INFORMATION IS REQUIRED TO BE INCLUDED  

1013F(1)   [ Reasonable disclosure]  

Despite anything in section 1013D or 1013E , information, or a statement containing information, is not required to be included in a Product Disclosure Statement if it would not be reasonable for a person considering, as a retail client, whether to acquire the product to expect to find the information in the Statement.

1013F(2)   [ Factors to consider]  

In considering whether it would not be reasonable for a person considering, as a retail client, whether to acquire the product to expect to find particular information in the Statement, the matters that may be taken into account include, but are not limited to:


(a) the nature of the product (including its risk profile); and


(b) the extent to which the product is well understood by the kinds of person who commonly acquire products of that kind as retail clients; and


(c) the kinds of things such persons may reasonably be expected to know; and


(d) if the product is an ED security that is not a continuously quoted security - the effect of the following provisions:


(i) Chapter 2M as it applies to disclosing entities;

(ii) sections 674 and 675 ; and


(e) the way in which the product is promoted, sold or distributed; and


(f) any other matters specified in the regulations.


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