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 1013FA   INFORMATION NOT REQUIRED TO BE INCLUDED IN PDS FOR CONTINUOUSLY QUOTED SECURITIES  

1013FA(1)  
This section applies to a Product Disclosure Statement that relates to a continuously quoted security.

1013FA(2)  
Despite anything in section 1013D , 1013E or 1013F , information is not required to be included in the Product Disclosure Statement if:


(a) for a continuously quoted security that is not a security of a notified foreign passport fund - the information is included in any of the following documents:


(i) the annual financial report most recently lodged with ASIC by the issuer of the product;

(ii) any half-year financial report lodged with ASIC by the issuer of the product after the lodgment of that annual financial report and before the date of the Product Disclosure Statement;

(iii) any continuous disclosure notices given by the issuer of the product after the lodgment of that annual financial report and before the date of the Product Disclosure Statement; and


(aa) for a continuously quoted security of a notified foreign passport fund - the information is included in any of the following documents:


(i) a copy of a report for the fund for the most recent financial year for the fund, prepared in accordance with the financial reporting requirements applying to the fund under the Passport Rules for the home economy for the fund;

(ii) a copy of an auditor ' s report that relates to the report mentioned in subparagraph (i);

(iii) any continuous disclosure notices given by the issuer of the product after the lodgment of the report mentioned in subparagraph (i) and before the date of the Product Disclosure Statement; and


(b) the Product Disclosure Statement:


(i) states that as a disclosing entity, the issuer of the product is subject to regular reporting and disclosure obligations; and

(ii) informs people of their right to obtain a copy of any of the documents referred to in paragraph (a) or (aa) (as the case requires).

If the Product Disclosure Statement informs people of their right to obtain a copy of the document, the issuer of the product must give a copy of the document free of charge to anyone who asks for it.

1013FA(3)  
ASIC may determine that this section does not apply to Product Disclosure Statements for continuously quoted securities if ASIC is satisfied that in the previous 12 months:


(a) the issuer of the continuously quoted securities contravened:


(i) the provisions of Chapter 2M ; or

(ii) subsection 674(2) or 675(2) ; or

(iii) subsection 1012DAA(10) or 1012DA(9) ; or

(iv) section 1308 as it applies to a notice under subsection 1012DAA(2) or 1012DA(5) ; or


(b) the responsible person for the Product Disclosure Statement contravened section 1016E , 1021D , 1021E or 1021J .

1013FA(4)  
The determination must be made in writing and ASIC must publish a copy of the determination in the Gazette .


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