Commonwealth Numbered Regulations

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CORPORATIONS AMENDMENT REGULATIONS 2005 (NO. 5) (SLI NO 324 OF 2005) - SCHEDULE 3

Proposal 3

(regulation 3)

   

[1]           Regulation 7.9.02A

substitute

7.9.02A   Alternative ways of giving Statement

         (1)   For subsection 1015C (4) of the Act, the following are alternative ways of giving a Statement to a person:

                (a)    making the Statement available to the person in any way that:

                          (i)    is agreed to by the person; and

                         (ii)    allows the regulated person to be satisfied, on reasonable grounds, that the person has received the Statement;

               (b)    making the Statement available to the person’s agent in any way that:

                          (i)    is agreed to by the agent; and

                         (ii)    allows the regulated person to be satisfied, on reasonable grounds, that the agent has received the Statement.

         (2)   If a provision of the Act or these Regulations imposes additional requirements in relation to a matter in subregulation (1), the alternative way of giving a Statement is subject to the requirements.

Note    Regulation 7.9.02B is an example of an additional requirement.

[2]           After Division 5AA of Part 7.9

insert

Division 5AB          Short-Form Product Disclosure Statements

7.9.61AA      Modification of the Act: Short-Form Product Disclosure Statements

Definition of Short-Form Product Disclosure Statement

         (1)   For the provisions of the Act set out in column 2 of the following table, the Parts of the Act specified in column 3 apply as if section 761A of the Act were modified by inserting after the definition of self-managed superannuation fund the following definition:

“Short-Form Product Disclosure Statement , or Short-Form PDS , means a short-form Product Disclosure Statement that complies with the requirements of Division 3A of Part 7.9.”

 

Column 1

Column 2

Column 3

Item

Provisions of Act

 

1

paragraph 951C (1) (c)

Part 7.7

2

paragraph 992C (1) (c)

Part 7.8

3

paragraph 1020G (1) (c)

Part 7.9

Definition of Supplementary Short-Form Product Disclosure Statement

         (2)   For the provisions of the Act set out in column 2 of the following table, the Parts of the Act specified in column 3 apply as if section 761A of the Act were modified by inserting after the definition of Supplementary Product Disclosure Statement the following definition:

“Supplementary Short-Form Product Disclosure Statement , or Supplementary Short-Form PDS , has the meaning given by section 1017L.”

 

Column 1

Column 2

Column 3

Item

Provisions of Act

 

1

paragraph 951C (1) (c)

Part 7.7

2

paragraph 992C (1) (c)

Part 7.8

3

paragraph 1020G (1) (c)

Part 7.9

Further modifications in Schedule 10BA

         (3)   For paragraph 951C (1) (c) of the Act, Part 7.7 of the Act is modified in its application in relation to Short-Form Product Disclosure Statements as set out in Schedule 10BA.

         (4)   For paragraph 992C (1) (c) of the Act, Part 7.8 of the Act is modified in its application to Short-Form Product Disclosure Statements as set out in Schedule 10BA.

         (5)   For paragraph 1020G (1) (c) of the Act, Part 7.9 of the Act is modified in its application to Short-Form Product Disclosure Statements as set out in Schedule 10BA.

[3]           After Schedule 10B

insert



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