Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p4
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 4/43)
Character Range: 1274377–1277304

'1019C  Information about certain vehicle insurance
 (1) This section applies in relation to the issue of a financial product mentioned in paragraph 7.1.14(2)(d) of the Corporations Regulations 2001.
 (2) The product issuer of the financial product must, as soon as practicable after issuing the financial product, give the holder of the financial product a statement that contains the information mentioned in paragraphs 1013D(1)(a) and (b) unless:
 (a) the product holder already has a statement containing that information; or
 (b) the product issuer believes on reasonable grounds that the product holder has already received a statement containing that information.
 (3) The product issuer must give the statement in the same way as a Product Disclosure Statement is to be given under subsection 1015C.
 (4) The product issuer is not required to comply with any other requirements in Divisions 2 to 6 (inclusive) in relation to the issue of the financial product.
 (5) The product issuer must not refuse, or intentionally or recklessly fail, to comply with subsections (2) and (3).
Penalty:
 (a) for an individual—50 penalty units; and
 (b) for a body corporate—500 penalty units.
 (6) Subsection (5) does not apply to the extent that the product issuer has a reasonable excuse.
Note: A defendant bears an evidential burden in relation to the matter in subsection (6A), see subsection 13.3(3) of the Criminal Code.
 (7) Divisions 1 and 7 do not apply in relation to the product issuer in relation to the financial product mentioned in paragraph 7.1.14(2)(d) of the Corporations Regulations 2001.'.

Division 4A—General

7.9.14C  Labour standards and environmental, social and ethical considerations
  For paragraph 1013D(4)(c) of the Act, the more detailed information to be included in a Product Disclosure Statement about the extent to which labour standards or environmental, social or ethical considerations are taken into account in the selection, retention or realisation of an investment is:
 (a) a statement that the product issuer does, or does not, take into account labour standards for the purpose of selecting, retaining or realising the investment; and
 (b) a statement that the product issuer does, or does not, take into account environmental, social or ethical considerations for the purpose of selecting, retaining or realising the investment; and
 (c) if the Product Disclosure Statement includes a statement that the product issuer does take into account labour standards for the purpose of selecting, retaining or realising the investment—a statement outlining:
 (i) the standards that the product issuer considers to be labour standards for that purpose; and
 (ii) the extent to which the product issuer takes those standards into account in the selection, retention or realisation of the investment; and
 (d) if the Product Disclosure Statement includes a statement that the product issuer does take