Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:4:p6
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 4 (pt 6/49)
Character Range: 996232–999012

(a) in writing; and
 (b) published in the Gazette.

7.7.13B  Additional information about charges or benefits—disclosure of dollar amounts
 (1) For paragraph 947D(2)(d) of the Act, 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 the information as an amount in dollars:
 (a) would impose an unreasonable burden on a providing entity, or a class of providing entities; or
 (b) would impose an unreasonable burden on a providing entity, or a class of providing entities, within a period specified in the determination; or
 (c) would not be in the interests of a client, or a class of clients;
the information may be set out as a description of the amount as a percentage of a specified matter (including worked dollar examples, unless that is inappropriate).
 (2) For paragraph 947D(2)(d) of the Act, 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 the information as an amount in dollars, or to describe the amount as a percentage:
 (a) would impose an unreasonable burden on a providing entity, or a class of providing entities; or
 (b) would impose an unreasonable burden on a providing entity, or a class of providing entities, within a period specified in the determination; or
 (c) would not be in the interests of a client, or a class of clients;
the information may be set out as a description of the method of calculating the charge or benefit (including worked dollar examples, unless that is inappropriate).
 (3) A determination under subregulation (1) or (2) must be:
 (a) in writing; and
 (b) published in the Gazette.

Division 4—General advice provided to a retail client

7.7.14  Product Disclosure Statement not required
  For paragraph 926B(1)(a) of the Act, a providing entity that is giving general advice in relation to a financial product for which, under Part 7.9 of the Act, a Product Disclosure Statement is not required, does not have to give the warning in paragraph 949A(2)(c) of the Act.

Division 5—Other disclosure requirements

7.7.20  General advice to retail client—no obligation to warn client
  For paragraph 949A(1)(c) of the Act, the provision of general advice in the circumstances set out in subregulation 7.7.02(5A) is specified.

7.7.20A  Extension of disclosure requirements to wholesale clients dealing with certain unauthorised insurers
 (1) For paragraph 949B(1)(e) of the Act, a person must give a wholesale client the information set out in subregulation (3) for a financial service provided by that person to the wholesale client if:
 (a) the service relates to an insurance contract that, because of subparagraph 8(2)(b)(ii) or (iii)