Document ID: chunk:federal_register_of_legislation:F2023C00841:body:0:p1
Version: federal_register_of_legislation:F2023C00841
Segment Type: other
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Character Range: 0–3167

ASIC Corporations (Shorter PDS and Delivery of Accessible Financial Products Disclosure by Platform Operators and Superannuation Trustees) Instrument 2022/497

About this compilation

Compilation No. 2

This is a compilation of ASIC Corporations (Shorter PDS and Delivery of Accessible Financial Products Disclosure by Platform Operators and Superannuation Trustees) Instrument 2022/497 as in force on 1 September 2023. It includes any commenced amendment affecting the legislative instrument to that date.

This compilation was prepared by the Australian Securities and Investments Commission.

The notes at the end of this compilation (the endnotes) include information
about amending instruments and the amendment history of each amended provision.

Contents

Part 1—Preliminary
1 Name of legislative instrument
3 Authority
4 Definitions
Part 2—Declaration
5 Relief from the Shorter PDS regime
6 Regulated acquisitions through certain superannuation funds
7 Platform operators and trustees of superannuation entities using an agent to deliver a Product Disclosure Statement
Part 3—Repeal
8 Repeal
Endnotes
Endnote 1—Instrument history
Endnote 2—Amendment history

Part 1—Preliminary

1 Name of legislative instrument
This instrument is ASIC Corporations (Shorter PDS and Delivery of Accessible Financial Products Disclosure by Platform Operators and Superannuation Trustees) Instrument 2022/497.

3 Authority
This instrument is made under paragraph 1020F(1)(c) of the Corporations Act 2001.

4 Definitions
In this instrument:
Act means the Corporations Act 2001.
IDPS has the same meaning as in ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669.
IDPS-like scheme has the same meaning as in ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669.
operator has the same meaning as in ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669.
Regulations means the Corporations Regulations 2001.
simple managed investment scheme has the same meaning as in regulation 1.0.02 of the Regulations.
       simple sub-fund means a sub-fund of a retail CCIV in respect of which a simple sub-fund product is referable.
       simple sub-fund product has the same meaning as in regulation 1.0.02 of the Regulations.
superannuation entity has the same meaning as in section 761A of the Act.

Part 2—Declaration

5 Relief from the Shorter PDS regime

Superannuation products: platforms
(1) Part 7.9 of the Act applies in relation to a trustee of a superannuation entity as if regulation 7.9.11K of the Regulations were modified or varied as follows:
(a) in paragraph (2)(c), omit "product).", substitute "product);"
(b)     after paragraph (2)(c) insert:
 "(d)  subject to subregulation (3), a superannuation product that relates to a superannuation entity in which:
(i) two or more investment strategies are available from which a member, or a class of members, may choose; and
(ii)   each of the investment strategies enables a regulated acquisition (within the meaning of section 1012IA of the Act) of a financial product to be made.";
(c) after subregulation (2) insert:
"(3) Paragraph (2)(d) does