Corporations Amendment Regulations 2002 (No. 2) (16 of 2002)

Schedule 1   Amendments commencing at 12.01 am (in the Australian Capital Territory) on 11 March 2002

[216]   Schedule 10A, Parts 3 and 4

substitute

Part 3 Modifications relating to insurance options under contract associated with superannuation interest

3.1 After subsection 1012D (9B)

insert

Insurance options

(9C) A product issuer does not have to give a Product Disclosure Statement to a person if:

(a) a product holder seeks to change the coverage of insurance options under a contract associated with a superannuation interest; and

(b) information in relation to the change of insurance options has not already been given in a periodic statement or in accordance with other periodic reporting requirements under Division 3.

(9D) If subsection (9C) applies:

(a) the product issuer must ensure that the product holder has sufficient information to enable the product holder to make an informed decision; and

(b) that subsection does not prevent the product issuer from complying with paragraph (a) by giving the product holder a Product Disclosure Statement.