Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:4:p34
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 4 (pt 34/60)
Character Range: 907625–910397

of the Act, a Financial Services Guide does not have to be given to a client in the following circumstances:
 (a) the providing entity is an issuer of derivatives that are able to be traded on a financial market;
 (b) the financial service is a dealing in a derivative by the providing entity;
 (c) at the time of the dealing, the providing entity is not a participant in the financial market on which the particular derivative may be traded;
 (d) the only financial service that the providing entity provides to the client is the issuing of the derivative.
 (6) In this regulation:
product distributor means a licensee that offers a financial product for sale.
 (7) If:
 (a) a financial service is provided by a person (the secondary service provider) to a client by causing or authorising another person (the intermediary) to provide or pass on the service; and
 (b) but for the operation of section 52 of the Act, the secondary service provider would not be taken to be providing the financial service to the client; and
 (c) the intermediary does not act on behalf of the secondary service provider in providing or passing on the service for the secondary service provider (see section 911B of the Act); and
 (d) the intermediary is a financial services licensee or an authorised representative of a financial services licensee; and
 (e) the secondary service provider has a written agreement with the intermediary under which the intermediary agrees to either:
 (i) give the secondary service provider's Financial Services Guide relating to the financial service provided by the secondary service provider to the client; or
 (ii) inform the client how to obtain the secondary service provider's Financial Services Guide relating to the financial service provided by the secondary service provider;
then, for subsection 941C(8) of the Act, the secondary service provider does not have to give the client a Financial Services Guide for the financial service.

7.7.02A  Situations when Financial Services Guide is not required
 (1) For paragraph 951C(1)(c) of the Act, section 941C of the Act is modified by inserting after subsection 941C(1) the following subsection:
 "(1A) The providing entity does not have to give the client a Financial Services Guide if the client has already received the documents referred to in paragraphs (7A)(b) and (c), in the circumstances set out in that subsection, that together contain all of the information that the new Financial Services Guide is required to contain."
 (2) For the purposes of paragraph 951C(1)(c) of the Act, section 941C of the Act is modified by inserting after subsection 941C(7) the following subsections:
 "(7AA) The providing entity does not have to give the client a Financial Services Guide in the following