Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:4:p60
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 4 (pt 60/60)
Character Range: 974601–976332

comply with this subsection is an offence (see subsection 1311(1)).
Note 2: For the client's right to a record of the advice, see subsections 942B(8) and 942C(8) (Financial Services Guides) and section 943N (website disclosure information) of the Act.
Note 3: Subsections 947D(2) and (3) require additional information to be included in the record in certain circumstances.

Second situation: certain basic deposit and other products
 (5) The providing entity does not have to give the client a Statement of Advice if the advice relates to any or all 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.
 (6) However, if subsection (4) applies and the client is not given a Statement of Advice, the client must instead, when, or as soon as practicable after, the advice is provided, be given the information that would be required to be in the Statement of Advice by paragraphs 947B(2)(d) and (e), or 947C(2)(e) and (f), as the case requires."

7.7.10AF  Various consequential amendments to Division 7 of Part 7.7 concerning situations where Financial Services Guides do not have to be given
 (1) For paragraph 951C(1)(c) of the Act, Part 7.7 of the Act applies as if the provision set out in column 2 of the following table were modified as set out in columns 3 and 4:

Column 1  Column 2                                                                                   Column 3            Column 4
Item      provision of Act                                                                           is modified by…     and…