Corporations Act 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
Division 3
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Additional requirements for personal advice provided to a retail client
Subdivision C
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Requirement for a Statement of Advice to be given
SECTION 946A
OBLIGATION TO GIVE CLIENT A STATEMENT OF ADVICE
946A(1)
The providing entity must give the client a Statement of Advice in accordance with this Subdivision and Subdivision D .
The Statement of Advice may be:
(a) the means by which the advice is provided; or
(b) a separate record of the advice.
This section has effect subject to sections 946AA and 946B .
A person contravenes this subsection if the person contravenes subsection (1).
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
PART 7.7
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FINANCIAL SERVICES DISCLOSURE
CCH Note: Part 7.7, Divs 2, 3 and 4 are modified by ASIC Corporations (Superannuation Calculators and Retirement Estimates) Instrument 2022/603.
The providing entity must give the client a Statement of Advice in accordance with this Subdivision and Subdivision D .
946A(2)
The Statement of Advice may be:
(a) the means by which the advice is provided; or
(b) a separate record of the advice.
946A(3)
This section has effect subject to sections 946AA and 946B .
946A(4)
A person contravenes this subsection if the person contravenes subsection (1).
Note: This subsection is a civil penalty provision (see section 1317E ).
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