Document ID: chunk:federal_register_of_legislation:F2024C01249:clause:10e_4
Version: federal_register_of_legislation:F2024C01249
Segment Type: clause
Provision Reference: sch 10E cl 4
Character Range: 2331997–2333271

4  Contents of section 2 (How [name of simple managed investment scheme] works)
 (1) Section 2 of the Product Disclosure Statement must describe, in the form of a summary:
 (a) how the simple managed investment works; and
 (b) the interests that members acquire.
 (2) Section 2 must:
 (a) if applicable—describe, in the form of a summary, the minimum investment amounts; and
 (b) provide information about the structure of the simple managed investment scheme; and
 (c) state, in general terms, that the price of interests will vary as the market value of assets in the simple managed investment scheme rises or falls; and
 (d) describe, in the form of a summary, how members can increase or decrease their investment by acquiring interests or disposing of interests; and
 (e) state, in general terms, that in some circumstances, such as when there is a freeze on withdrawals, members may not be able to withdraw their funds within the usual period upon request; and
 (f) describe the frequency of distributions and explain how distributions are calculated.
 (3) The responsible entity:
 (a) may provide more detailed information on the acquisition and disposal of interests; and
 (b) may provide the information by applying, adopting or incorporating a matter in writing.