Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:3:p17
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 3 (pt 17/19)
Character Range: 1413927–1416692

of the Act: information already given
  For paragraph 1020G(1)(c) of the Act section 1017D of the Act is modified so that if:
 (a) a financial product is a superannuation product or an RSA; and
 (b) the issuer has provided information in accordance with Subdivisions 5.2 and 5.3; and
 (c) that information has also been provided in accordance with subsection 1017D(5A) of the Act;
paragraphs 1017D(5)(a), (b), (d) and (e) are omitted.

7.9.73  Reporting periods: general
  For paragraph 1020G(1)(c) of the Act, Part 7.9 of the Act is modified in its application in relation to financial products as set out in Part 16 of Schedule 10A.

7.9.74  Form of application
 (1) For paragraph (c) of the definition of eligible application in subsection 1016A(1) of the Act, an application form for a financial product, for use by a client, that is attached to, accompanying or derived from a Product Disclosure Statement must require the following information:
 (a) the applicant's name;
 (b) the applicant's date of birth;
 (c) the applicant's address.
 (2) An application form for a financial product, for use by an employer that is applying as a prospective standard employer‑sponsor, that is attached to, accompanying or derived from a Product Disclosure Statement must require the employer's name and address.

7.9.74A  Periodic statements—requirement to state information as amounts in dollars
 (1) For paragraph 1020G(1)(c) of the Act, Part 7.9 of the Act applies as if subsection 1017D(5A) were modified to read as follows:
 '(5A) Unless in accordance with the regulations and a determination by ASIC:
 (a) information to be disclosed in accordance with paragraphs (5)(a), (b), (c), (d) and (e) must be stated as amounts in dollars; and
 (b) any other information in relation to amounts paid by the holder of the financial product during the period must be stated as amounts in dollars.'.
 (2) For paragraph 1020G(1)(a) of the Act, the issuer of a financial product does not have to provide the information mentioned in subsection 1017D(5A) of the Act in the form required by that subsection, in a periodic statement prepared before 1 January 2005.
 (3) For subsection 1017D(5A) of the Act, as modified in accordance with subregulation (1), if ASIC determines that, for a compelling reason based on the nature of a financial product or service, or the nature of the information, to state information to be disclosed in accordance with paragraphs 1017D(5)(a), (b), (c), (d) and (e) of the Act as an amount in dollars:
 (a) would impose an unreasonable burden on a product issuer, or a class of product issuers; or
 (b) would impose an unreasonable burden on a product issuer, or a class of product issuers, within a period specified in the determination; or
 (c) would