Document ID: chunk:federal_register_of_legislation:F2022L00762:body:0:p3
Version: federal_register_of_legislation:F2022L00762
Segment Type: other
Provision Reference: 
Character Range: 5599–8519

in a recommendation, issue or sale situation before the lodgement of that notice.
(4) The responsible person for the Statement must lodge with ASIC as soon as practicable after the end of each financial year, and in any event within 5 business days of the end of each financial year, a notice (a secondary notice) that complies with subsections (5) and (6). Such notices must be lodged unless and until no Product Disclosure Statement that includes the common part is available to be given to someone in a recommendation, issue or sale situation.
(5)   The secondary notice must specify each Product Disclosure Statement that:
(a) includes the common part; and
(b) where paragraph (2)(b) applies in relation to the primary notice—is supplemented by the Supplementary Product Disclosure Statement; and
(c) at any time before the end of the financial year to which the notice relates has been given to someone in a recommendation, issue or sale situation; and
(d) at the end of the financial year to which the notice relates, is available to be given to someone in a recommendation, issue or sale situation.
(6)     If a Supplementary Product Disclosure Statement that:

(a)  supplements a Product Disclosure Statement covered by subsection (5); and

(b) relates to the variable choice part of the Product Disclosure Statement;

              has been given to someone in a recommendation, issue or sale situation, the secondary notice must also specify the Supplementary Product Disclosure Statement and which of the Product Disclosure Statements it supplements.

(7)    For the purposes of subsection (2) a common part is taken not to be first given as part of a Statement in a recommendation, issue or sale situation where a common part containing the same information and statements (other than information and statements identifying the standard employer-sponsor in relation to the superannuation product to which the Statement relates) has previously been given as part of another Statement in a recommendation, issue or sale situation.

(8)     For the purposes of this section, a Supplementary Product Disclosure Statement relates to the common part of a Product Disclosure Statement or the variable choice part of a Product Disclosure Statement (as the case may be) if it:

                  (a)     corrects a misleading or deceptive statement in that part; or

                  (b)     corrects an omission of information which the Product Disclosure Statement is required to contain, by adding that information to that part; or

                  (c)     updates or adds to the information in that part.

Note: A Supplementary Product Disclosure Statement may relate to both the common part and the variable choice part of a Product Disclosure Statement.

(9)    In this section:

         accumulation product means a superannuation product other than a superannuation product in relation to which the holder