Document ID: chunk:federal_register_of_legislation:F2023C00841:body:0:p15
Version: federal_register_of_legislation:F2023C00841
Segment Type: other
Provision Reference: 
Character Range: 37842–40902

accessible financial product included a reference to the provider; and";

           (iv) after subsection (5), insert:

"Modification of section 1013C

(5A) Section 1013C applies in relation to a regulated acquisition by a provider who is a trustee of a superannuation entity as if the reference to the responsible person in subsection 1013C(2) were:

(a) in the case of an issue Statement—a reference to the issuer of the financial product; or

(b)  in the case of a sale Statement—a reference to the seller of the financial product.";

(c) in subsection 1013D(1), omit "sections 1013F and 1013FA,", substitute "sections 1013F, 1013FA and 1013FB,";

(d) in section 1013E, omit "sections 1013F and 1013FA,",  substitute "sections 1013F, 1013FA and 1013FB,";

(e) after section 1013FA, insert:

                 "1013FB  Choices available in relation to Product Disclosure Statements for regulated acquisitions through superannuation funds

(1) This section applies in relation to a regulated acquisition of a financial product (the accessible financial product) that may be made through a superannuation entity.

(2) The trustee of the superannuation entity, in relation to the Product Disclosure Statement (the superannuation entity PDS) for the superannuation product to which the superannuation entity relates, may choose to comply with:

(a) subsections (3) and (4) (separate Statements for the superannuation product and the accessible financial product); or
(b) subsections (5) and (6) (integrated Statement for the superannuation product and the accessible financial product); or
(c) the requirements of this Division apart from this section.
           Separate PDSs for superannuation product and accessible financial products
(3) The superannuation entity PDS must:
(a) contain the information about the superannuation product that is required by this Division; and
(b) in relation to the accessible financial product—contain the information that a person would reasonably require as a retail client to:
(i) identify the accessible financial product; and
(ii) understand the investment strategy under which the product may be acquired by way of a regulated acquisition; and
(iii) work out whether to ask for further information about the product; and
(c) contain a statement that informs people of their right to obtain from the trustee on request a Product Disclosure Statement for the accessible financial product.
(4) A trustee that complies with subsection (3) in relation to the superannuation entity PDS:
(a) does not have to include in the superannuation entity PDS any other information about the accessible financial product that would be required by or under sections 1013C, 1013D, 1013DA, 1013E or 1013F; and
(b) must give a Product Disclosure Statement for the accessible financial product to any person who asks for it.
           Integrated PDS for superannuation product and accessible financial products
(5) The superannuation entity PDS and the Product Disclosure Statement for the accessible financial product must be combined:
(a)