Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

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

Division 5B - Confirming transactions  

REGULATION 7.9.61D   TRANSACTIONS INVOLVING SUPERANNUATION PRODUCTS  

7.9.61D(1)    

For paragraph 1020G(1) (c) of the Act, this regulation applies in relation to the following financial products:

(a)    an interest in a regulated superannuation fund that is not a public offer superannuation fund;

(b)    

an RSA that has been issued to the product holder because of the operation of subsection 52(4) of the RSA Act;

(c)    an interest in an eligible rollover fund of which the product holder became a member under section 243 of the SIS Act;

(d)    an interest in an eligible rollover fund of which the product holder became a member in the circumstances mentioned in section 89 of the RSA Act;

(e)    

an interest in a public offer superannuation fund that is not a successor fund if:

(i) the product holder is a standard employer-sponsored member of the fund; or

(ii) the product holder is a person who became a member of the fund in the circumstances mentioned in regulation 7.9.06B .

7.9.61D(2)    
Part 7.9 of the Act applies in relation to the financial products as if the following subsection were inserted after subsection 1017F(5A) of the Act:

" (5B)
For a financial product mentioned in regulation 7.9.61D of the Corporations Regulations 2001 :

(a) subsection (5A) does not apply if the responsible person in relation to a transaction involving the financial product provides the holder of the financial product with a facility that is able to be accessed by the holder:

(i) by phone; or

(ii) by writing; or

(iii) by another method that the responsible person knows, or reasonably believes, that the product holder is able to use; and

(b) confirmation may be provided by means of the facility mentioned in paragraph (a). " .

7.9.61D(3)    

Part 7.9 of the Act applies in relation to the financial products as if paragraph 1017F(6)(a) of the Act were replaced by the following paragraph:

" (a) must be:

(i) by telephone; or

(ii) by writing; or

(iii) by another method that the responsible person knows, or reasonably believes, that the product holder is able to use; and " .