Document ID: chunk:federal_register_of_legislation:C2008C00460:clause:1_138
Version: federal_register_of_legislation:C2008C00460
Segment Type: clause
Provision Reference: sch 1 cl 138
Character Range: 69692–70495

138  After subsection 1012DA(1)
Insert:

 (1A) In a recommendation situation or sale situation, the regulated person does not have to give the client a Product Disclosure Statement if:
 (a) but for subsection (5), the regulated person would be required by section 1012C to give a Product Disclosure Statement for the transfer or sale of the financial product (the relevant product); and
 (b) the transfer or sale of the relevant product to the client would take place in circumstances covered by subsection 1012C(8); and
 (c) the relevant product was not sold by the controller with the purpose referred to in subparagraph 1012C(8)(d)(i); and
 (d) a determination under subsection (2) was not in force in relation to the issuer of the relevant product at the time when the relevant product was issued.