Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_952b:p1
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 952B (pt 1/2)
Character Range: 412889–415704

952B  Definitions

 (1) In this Subdivision:

defective, in relation to a disclosure document or statement, means:
 (a) if the disclosure document or statement is a Financial Services Guide, a Supplementary Financial Services Guide, or is information or a statement required by subsection 941C(5), 941C(7) or 941D(2):
 (i) there is a misleading or deceptive statement in the disclosure document or statement; or
 (ii) if it is a Financial Services Guide—there is an omission from the Financial Services Guide of material required by section 942B or 942C; or
 (iii) if it is a Supplementary Financial Services Guide that is given for the purposes of paragraph 941F(d)—there is an omission from the Supplementary Financial Services Guide of material required by that paragraph; or
 (iv) if it is information or a statement required by subsection 941C(5), 941C(7) or 941D(2)—there is an omission from the document or statement of material required by that subsection;
  being a statement, or an omission, that is or would be materially adverse from the point of view of a reasonable person considering whether to proceed to be provided with the financial service concerned; or
 (b) if the disclosure document or statement is a Statement of Advice, or is information or a statement required by subsection 946B(3), 946B(6) or 946C(2) or by section 950D or 950E:
 (i) there is a misleading or deceptive statement in the disclosure document or statement; or
 (ii) if it is a Statement of Advice—there is an omission from the Statement of advice of material required by section 947B, 947C or 947D; or
 (iii) if it is information or a statement required by subsection 946B(3), 946B(6) or 946C(2) or by section 950D or 950E—there is an omission from the information or statement of material required by that subsection or section;
  being a statement, or an omission, that is or would be materially adverse from the point of view of a reasonable person considering whether to act in reliance on the advice concerned.

Note: In determining whether a Financial Services Guide is defective, the effect of section 943D must be taken into account (section 943D takes information and statements in a Supplementary Financial Services Guide to be included in the Financial Services Guide it supplements).

disclosure document or statement means:
 (a) a Financial Services Guide; or
 (b) a Supplementary Financial Services Guide; or
 (c) a Statement of Advice; or
 (d) information or a statement required by subsection 941C(5), 941C(7), 941D(2), 946B(3), 946B(6) or 946C(2) or by section 950D or 950E.

 (2) In this Subdivision, a reference (including in the definitions in subsection (1)) to a document or statement of a kind referred to in a paragraph of the definition of disclosure document or statement in subsection (1) includes