Document ID: chunk:federal_register_of_legislation:F2024C01249:clause:10c_2
Version: federal_register_of_legislation:F2024C01249
Segment Type: clause
Provision Reference: sch 10C cl 2
Character Range: 2291781–2294136

2  Minimum content of Product Disclosure Statement for standard margin lending facility
 (1) The Product Disclosure Statement must include the following sections, which must be numbered and titled as follows:
 1. About [name of provider of the standard margin lending facility] and [name of standard margin lending facility]
 2. Benefits of [name of standard margin lending facility]
 3. How [name of standard margin lending facility] works
 4. What is a margin call?
 5. The risk of losing money
 6. The costs
 7. How to apply.
 (2) The Product Disclosure Statement must include:
 (a) a table of contents that sets out the titles mentioned in subclause (1); and
 (b) the telephone number of the provider of the standard margin lending facility to enable a borrower for the standard margin lending facility to request a copy of the following under regulation 7.9.11G:
 (i) a copy of the Statement; and
 (ii) a copy of a matter in writing that is applied, adopted or incorporated by the Statement.
 (3) The Product Disclosure Statement must:
 (a) advise a person reading the Statement that:
 (i) it is a summary of significant information and contains a number of references to important information (each of which forms part of the Statement); and
 (ii) the person should consider that information before making a decision about the product; and
 (iii) the information provided in the Statement is general information only and does not take account of the person's personal financial situation or needs; and
 (iv) the person should obtain financial advice tailored to the person's personal circumstances; and
 (b) display the advice:
 (i) at or near the beginning of the document; and
 (ii) in a prominent position and style.
 (4) The Product Disclosure Statement:
 (a) may include additional sections after sections 1 to 7; and
 (b) may include other information;
to an extent that does not have the effect of contravening subclause 1(1).
 (5) The Product Disclosure Statement does not need to indicate that a particular requirement is not applicable to the standard margin lending facility.
Note: The Act, as modified in accordance with Subdivision 4.2A of Division 4 of Part 7.9, requires information to be included in the Product Disclosure Statement only to the extent to which the requirement is applicable to the standard margin lending facility.