Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_1016a:p2
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 1016A (pt 2/3)
Character Range: 578933–581633

Act 1993.

superannuation entity has the same meaning as in the Superannuation Industry (Supervision) Act 1993.

 (2) A person (the issuer or seller) must only make a restricted issue or a restricted sale of a relevant financial product to a person (the recipient) if:
 (a) the issue or sale is made pursuant to an eligible application made to the issuer or seller by the recipient; or
 (b) it is a restricted issue in relation to which the following conditions are satisfied:
 (i) the financial product is an interest in a relevant superannuation entity;
 (ii) the interest is issued pursuant to an application made to the issuer by a standard employer‑sponsor of the entity on the recipient's behalf;
 (iii) if the application is the first application for the issue of a superannuation interest made to the issuer by the standard employer‑sponsor on behalf of any person—the application is an eligible application; or
 (c) it is a restricted issue in relation to which the following conditions are satisfied:
 (i) the financial product is an interest in a relevant superannuation entity;
 (ii) the interest is issued pursuant to an application made to the issuer by another trustee under Part 24 of the Superannuation Industry (Supervision) Act 1993 on the recipient's behalf;
 (iii) if the application is the first application under Part 24 of that Act made to the issuer by the other trustee on behalf of any person—the application is an eligible application; or
 (d) it is a restricted issue in relation to which the following conditions are satisfied:
 (i) the financial product is an interest in a relevant superannuation entity;
 (ii) the interest is issued pursuant to an application made to the issuer by an RSA provider under Part 9 of the Retirement Savings Accounts Act 1997 on the recipient's behalf;
 (iii) if the application is the first application under Part 9 of that Act made to the issuer by the RSA provider on behalf of any person—the application is an eligible application; or
 (e) it is a restricted issue in relation to which the following conditions are satisfied:
 (i) the financial product is an RSA product;
 (ii) the interest is issued pursuant to an application made to the issuer by an employer (within the meaning of the Retirement Savings Accounts Act 1997) of the recipient;
 (iii) if the application is the first application for the issue of an RSA product of that kind made to the issuer by the employer on behalf of any person—the application is an eligible application;
 (iv) all other applicable requirements (if any) in regulations made for the purposes of this subparagraph are satisfied in relation to the application; or
 (f) it is a restricted issue that