Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p3
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 3/5)
Character Range: 1242060–1244984

relation to the attribution or transfer of an accrued default amount;
then, for paragraph 1020G(1)(c) of the Act, section 1017B of the Act applies to the person as if subsection 1017B(4) were omitted and the following subsection were substituted:
 (4) The notice must mention the following:
 (a) the accrued default amount that was attributed or transferred;
 (b) the name of the MySuper product to which the amount was attributed or transferred;
 (c) how the member may obtain a product disclosure statement for the MySuper product;
 (d) any other information that the member needs to understand the attribution or transfer.

7.9.11M  Provisions of Part 7.9 of Act that do not apply in relation to superannuation product
 (1) For paragraph 1020G(1)(b) of the Act, Subdivision D of Division 2 of Part 7.9 of the Act does not apply in relation to a superannuation product.
 (2) If a person:
 (a) proposes to prepare a Product Disclosure Statement or a Supplementary Product Disclosure Statement for a superannuation product during the period commencing on the day on which this subregulation commences and ending on 22 June 2012; and
 (b) is permitted to decide, in accordance with regulation 4 of the Corporations Amendment Regulations 2010 (No. 5), to prepare the Product Disclosure Statement or Supplementary Product Disclosure Statement in accordance with Subdivision D of Division 2 of Part 7.9 of the Act; and
 (c) prepares the Product Disclosure Statement or Supplementary Product Disclosure Statement in accordance with that Subdivision;
the preparation of the Product Disclosure Statement or Supplementary Product Disclosure Statement is taken to be full compliance with all requirements of Part 7.9 of the Act and these Regulations relating to how the Product Disclosure Statement or Supplementary Product Disclosure Statement is to be prepared.
Note: The Corporations Amendment Regulations 2010 (No. 5) amended these Regulations to make new arrangements for the preparation of Product Disclosure Statements for superannuation products, including identifying that Subdivision D of Division 2 of Part 7.9 of the Act would no longer apply. However, the transitional arrangements in subregulations 4(1) to (7) of the Amendment Regulations allowed certain persons to decide to rely on Subdivision D of Division 2 of Part 7.9 of the Act for the purpose of preparing the Product Disclosure Statement.

7.9.11N  Modification of Act—superannuation product
  For paragraph 1020G(1)(c) of the Act, Part 7.9 of the Act is modified in its application to a superannuation product to which this Subdivision applies as set out in Part 5B of Schedule 10A.

7.9.11O  Form and content of Product Disclosure Statement for superannuation product
 (1) For modified paragraph 1013C(1)(a) of the Act, a Product Disclosure Statement for a superannuation product to which this Subdivision applies must include the information and statements