Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_1017c:p1
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 1017C (pt 1/2)
Character Range: 601315–604317

1017C  Information for existing holders of superannuation products and RSA products

Application

 (1) This section applies to the responsible person for a Product Disclosure Statement for a financial product if the product is:
 (a) a superannuation product; or
 (b) an RSA product.

Information for concerned person

 (2) Subject to subsection (4), the responsible person must, on request by a concerned person, give the concerned person information that the concerned person reasonably requires for the purposes of:
 (a) understanding any benefit entitlements that the concerned person may have, has or used to have under the financial product; or
 (b) understanding the main features of:
 (i) the relevant sub‑plan; or
 (ii) the responsible person if there is no relevant sub‑plan; or
 (c) making an informed judgment about the management and financial condition of:
 (i) the responsible person; and
 (ii) the relevant sub‑plan (if any); or
 (d) making an informed judgment about the investment performance of:
 (i) the relevant sub‑plan; or
 (ii) the responsible person if there is no relevant sub‑plan; or
 (e) understanding the particular investments of:
 (i) the relevant sub‑plan; and
 (ii) the responsible person.
The information must be given in accordance with the other requirements of this section.

Note 1: Subsection (9) defines concerned person.

Note 2: Failure to comply with this subsection is an offence (see subsection 1311(1)).

Information for employer‑sponsor

 (3) Subject to subsection (4), the responsible person must, on request by an employer‑sponsor, give the employer‑sponsor information that the employer‑sponsor reasonably requires for the purposes of:
 (a) understanding the kinds of benefits to which the employer‑sponsor's employees are entitled or will or may become entitled, and the main features of:
 (i) the relevant sub‑plan; or
 (ii) the responsible person if there is no relevant sub‑plan; or
 (b) making an informed judgment about the management and financial condition of:
 (i) the responsible person; and
 (ii) the relevant sub‑plan (if any); or
 (c) making an informed judgment about the investment performance of:
 (i) the relevant sub‑plan; or
 (ii) the responsible person if there is no relevant sub‑plan; or
 (d) a matter related to the Superannuation Guarantee (Administration) Act 1992.
The information must be given in accordance with the other requirements of this section.

Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).

Exceptions

 (4) This section does not require (and does not, by implication, authorise) the disclosure of:
 (a) internal working documents of the responsible person; or
 (b) information or documents that would disclose, or tend to disclose:
 (i) personal information of another person if, in the circumstances, the disclosure would be unreasonable; or
 (ii) trade secrets or other information having a commercial value that would be reduced or destroyed by the disclosure; or
 (c)