Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_1019a
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 1019A
Character Range: 634215–635464

1019A  Situations in which this Division applies

 (1) Subject to subsection (2), this Division applies if:
 (a) a financial product of one of the following classes is provided in this jurisdiction to a person as a retail client after the commencement of this Chapter:
 (i) risk insurance products;
 (ii) investment life insurance products;
 (iii) managed investment products;
 (iv) superannuation products;
 (v) RSA products; and
 (b) the product is provided to the person:
 (i) by way of issue; or
 (ii) by way of sale pursuant to an offer to which section 1012C applies.

 (2) The regulations may do any or all of the following:
 (a) provide that a specified subclass of financial products that would otherwise be covered by a subparagraph of paragraph (1)(a) are excluded from that subparagraph;
 (b) provide additional requirements to be satisfied before this Division applies in relation to a class or subclass of financial products;
 (c) provide that this Division does not apply in relation to the provision of a financial product in specified circumstances.

 (3) In this Division:
 (a) the person referred to in paragraph (1)(a) is the client; and
 (b) the person who issues or sells the product to the client is the responsible person.