Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_941c:p1
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 941C (pt 1/2)
Character Range: 361815–364550

941C  Situations in which a Financial Services Guide is not required

Client has already received the information

 (1) The providing entity does not have to give the client a Financial Services Guide (the new FSG) if the client has already received a Financial Services Guide that contains all of the information that the new FSG is required to contain.

Providing entity is product issuer dealing in own products

 (2) The providing entity does not have to give the client a Financial Services Guide if:
 (a) the providing entity is an issuer of financial products; and
 (b) the financial service is a dealing (see section 766C) in financial products, other than derivatives able to be traded on a licensed market, issued by the providing entity, and does not also relate to financial products issued by someone else.

Note: The issuer will however have to comply with the Product Disclosure Statement requirements (see Division 2 of Part 7.9).

Providing entity is merely operating a registered scheme

 (3) The providing entity does not have to give the client a Financial Services Guide if:
 (a) the providing entity is the responsible entity of a registered scheme; and
 (b) the financial service consists only of the operation of that scheme by the providing entity.

Financial product advice given in a public forum

 (4) The providing entity does not have to give the client a Financial Services Guide if the financial service is general advice provided in a public forum.

 (4A) The regulations may define what constitutes a public forum for the purposes of subsection (4).

 (5) However, if subsection (4) applies and the client is not given a Financial Services Guide before the advice is provided, the client must instead, before the advice is provided, be given the information that would be required to be in the Financial Services Guide by paragraphs 942B(2)(a), (e) and (f), or paragraphs 942C(2)(a), (c), (f) and (g), as the case requires.

Certain basic deposit and other products

 (6) The providing entity does not have to give the client a Financial Services Guide if the financial service is a dealing (see section 766C) in, or otherwise relates to, any of the following:
 (a) a basic deposit product;
 (b) a facility for making non‑cash payments (see section 763D) that is related to a basic deposit product;
 (c) a financial product of a kind prescribed by regulations made for the purposes of this paragraph.

 (7) However, if subsection (6) applies and the client is not given a Financial Services Guide before the service is provided, the client must instead, before the service is provided, be given the information that would be required to be in the Financial Services Guide by paragraphs 942B(2)(a)