Document ID: chunk:federal_register_of_legislation:F2021C00174:reg:3:p28
Version: federal_register_of_legislation:F2021C00174
Segment Type: reg
Provision Reference: reg 3 (pt 28/29)
Character Range: 126879–130092

8C of this instrument applies to periodic statements for reporting periods commencing on or after 30 September 2021.

            Election by the responsible entity

            (2) The responsible entity of a registered time-sharing scheme may, in accordance with subsection (3), elect to apply the declaration in section 8C of this instrument to a periodic statement for a reporting period (an earlier reporting period) that:

               (a) commences on or after 14 December 2020; or

               (b) ends on a day (the exit date) that is on or after 14 December 2020 if the reporting period ends on the exit date because the holder of the product ceased to hold the product on the exit date.

            (3) The responsible entity elects to apply the declaration in section 8C of this instrument to a periodic statement for an earlier reporting period if the responsible entity makes a written record of:

               (a) the financial products to which the election relates;

               (b) the reporting periods to which the election relates; and

               (c) the date or dates the election is made.

            (4) If the responsible entity elects to apply the declaration in section 8C of this instrument to a periodic statement for an earlier reporting period:

               (a) the election is taken to also cover any periodic statements for any subsequent reporting periods; and

               (b) the declaration in section 8C of this instrument applies to the periodic statement and any periodic statements for any subsequent reporting periods.

            (5) An election made under this section cannot be withdrawn.

13 Disclosure of fees and costs—transitional exemption from ongoing disclosure of material changes and significant events

            (1) A responsible entity of a registered time-sharing scheme does not have to comply with subsection 1017B(1) of the Act to the extent section 8C of this instrument directly results in a change or event that, but for this section, would be required to be notified under that subsection of the Act.

            (2) The exemption in this section only applies in relation to the first time the responsible entity makes changes to a Product Disclosure Statement as a direct result of section 8C of this instrument.

Endnotes

Endnote 1—Instrument history

Instrument number  Date of FRL registration      Date of commencement  Application, saving or transitional provisions
2017/272           27/3/2017 (see F2017L00315)   28/3/2017
2020/1064          11/12/2020 (see F2020L01571)  12/12/2020            -
2020/1065          11/12/2020 (see F2020L01572)  12/12/2020            -

Endnote 2—Amendment history
ad. = added or inserted     am. = amended     LA = Legislation Act 2003    rep. = repealed     rs. = repealed and substituted
Provision affected   How affected
Section 2            rep. s48D LA
Section 4            rs. 2020/1064
                     am. 2020/1065
Section 5            rs. 2020/1064
Section 5A           ad. 2020/1064
Section 7            rs. 2020/1064
Section 7A           ad. 2020/1064
Section 8A           ad. 2020/1064
Section 8B           ad. 2020/1064
Section 8C           ad.