Corporations Amendment Regulations 2008 (No. 4) (158 of 2008)

Schedule 1   Amendments

[13]   Schedule 10A, after Part 3

insert

Part 5 Modifications relating to First Home Saver Accounts

5.1Subsection 946AA (4)

omit

The

insert

Subject to subsection (5A), the

5.2Subsection 946AA (5)

omit

The

insert

Subject to subsection (5A), the

5.3After subsection 946AA (5)

insert

(5A) Subsections (4) and (5) do not apply if the small investment advice is about a capital guaranteed FHSA product.

5.4Paragraph 1013C (1) (a)

substitute

(a) must:

(i) include the statements and information required by regulations made for this subparagraph; and

(ii) be in the form required by regulations made for this subparagraph; and

5.5Subsection 1013C (1), note

omit

5.6Subsection 1013C (2)

omit

sections 1013D and 1013E

insert

subparagraph (1) (a) (i)

5.7After subsection 1013C (7)

insert

(8) Regulations made for subparagraph (1) (a) (i) or (ii) may authorise ASIC to determine or amend the statements and information included in, and the form of, a Product Disclosure Statement.

5.8Sections 1013D and 1013E

omit

5.9Subsection 1013L (7)

substitute

(7) The regulations may:

(a) prescribe circumstances in which a Product Disclosure Statement must not be made up of 2 or more documents; and

(b) impose additional requirements to be complied with if a Product Disclosure Statement is made up of 2 or more documents.

5.10Section 1013M, at the foot

insert

Note A Product Disclosure Statement for an FHSA product cannot be combined with a Financial Services Guide in a single document - see subsection 942DA (3) and subregulation 7.7.08A (1A) of the Corporations Regulations 2001.

5.11After section 1013M

insert

1013N Combining Product Disclosure Statement and another document

A Product Disclosure Statement must not be attached to, or combined with, another document.

Note 1 A Product Disclosure Statement itself may be given as 2 or more documents in certain circumstances - see section 1013L and regulation 7.9.10C of the Corporations Regulations 2001.

Note 2 A Product Disclosure Statement may be given to a person along with other documents, but must generally be the first document given - see regulation 7.9.10D of the Corporations Regulations 2001.

5.12Part 7.9, Division 2, Subdivision D

omit