Document ID: chunk:federal_register_of_legislation:F2023C00841:body:0:p16
Version: federal_register_of_legislation:F2023C00841
Segment Type: other
Provision Reference: 
Character Range: 40618–43479

for the accessible financial product to any person who asks for it.
           Integrated PDS for superannuation product and accessible financial products
(5) The superannuation entity PDS and the Product Disclosure Statement for the accessible financial product must be combined:
(a) in a single document (the integrated PDS); or
(b) in 2 or more separate documents (the integrated PDS) that are given at the same time.
Note: Other requirements relating to Product Disclosure Statements made up of 2 or more separate documents are set out in section 1013L.

(6) The integrated PDS must contain:

(a) the information about the superannuation product and the accessible financial product that is required by this Division; and

(b) the information that a person would reasonably require as a retail client to understand the investment strategy under which the accessible financial product may be acquired by way of a regulated acquisition.

Note 1: Paragraphs 1012IA(5)(aa), (ab) and (ac) enable a Product Disclosure Statement for the accessible financial product to be prepared by the trustee where:

(a) the trustee chooses to comply with subsections (3) and (4) of this section; or

(b) the trustee chooses to comply with subsections (5) and (6) of this section.

Note 2: Where the trustee chooses to comply with subsections (3) and (4) of this section, the Product Disclosure Statement for the accessible financial product may be prepared by the trustee or by issuer of the accessible financial product.";

(f) after section 1017C, insert:

                 "1017CA Information for existing holders of superannuation products who have given instructions to make regulated acquisitions

(1) This section applies to a trustee of a superannuation entity if:

(a) a person (the client) has directed the trustee to follow an investment strategy (the affected investment strategy) that involves making a regulated acquisition of an accessible financial product in relation to all or part of the client's holding of the superannuation product to which the entity relates; and

(b) at a time when the trustee (or another person with whom the trustee has an arrangement) holds the accessible financial product as a result of the client's direction, a material adverse change to a matter, or a significant event that adversely affects a matter occurs, being a matter that would have been required to be specified in a Product Disclosure Statement for the accessible financial product prepared on the day before the change or event occurs; and
(c) the trustee has not decided to stop making regulated acquisitions of the product under the affected investment strategy.

Note:   Paragraph (b) applies whether or not a Product Disclosure Statement was in fact prepared (or required to be prepared) on the day before the change or event occurs.

(2) As soon as practicable