Document ID: chunk:federal_register_of_legislation:F2023C01164:body:0:p5
Version: federal_register_of_legislation:F2023C01164
Segment Type: other
Provision Reference: 
Character Range: 10685–13536

the scheme, together with transaction and account costs incurred on behalf of the member; and
(iii) the costs of the accessible investments chosen by the member will generally be set out in a disclosure document or Product Disclosure Statement for the accessible investments; and
(d) examples, based on estimates, of the total of fees, charges and expenses of the scheme and the accessible securities and accessible financial products that may be acquired through the scheme that satisfy the requirements of subsection (3).
(3) The examples referred to in paragraph (2)(d):
(a) must express the total estimate of fees, charges and expenses as a proportion of the total price paid in acquiring the accessible securities and accessible financial products through the scheme; and
(b) must be examples that the responsible entity has reasonable grounds for believing are based on estimates of the fees, charges and expenses that are within the range typically charged for accessible securities and accessible financial products of the relevant kind; and
(c)  must cover a range of accessible securities and accessible financial products that may be acquired through the scheme; and
(d) need not refer to actual or identified accessible securities or accessible financial products.

Application form –warning
(4) The responsible entity of an IDPS-like scheme must not issue an interest in the scheme to a person as a retail client in response to an application form unless:
(a) the form contains a prominent warning that:
(i) identifies the key areas of difference between acquiring a financial product directly and through the scheme, including any differences in respect of the rights referred to in paragraph (1)(a);
(ii) if applicable, that a member may be adversely affected if the member has not engaged a person, or a person meeting particular requirements, to provide financial product advice to the member or provide instructions on behalf of the member in relation to accessible investments; and
(b) the form contains cross-references (including page or paragraph references where applicable) to where further information on the matters mentioned in subparagraph (a)(i) and if applicable (a)(ii) can be located in the Product Disclosure Statement; and
(c) in the case of:
(i) a form that is submitted electronically—the part of the facility that allows the person applying for the interests to sign or submit the form contains a prominent statement; and
(ii) otherwise—the form requires the person applying for the interests to sign an acknowledgement;
to the effect that the person applying for the interest acknowledges the matters contained in the warning.

Members' requests for information
(5) The responsible entity of an IDPS-like scheme must give to a member on request a copy of all communications that are required by law to be given to