Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:4:p58
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 4 (pt 58/60)
Character Range: 969540–972324

time within which the client may request such a record must be consistent with any applicable requirements in regulations made for the purposes of this subparagraph or, if there are no such applicable requirements, must be such as to allow the client a reasonable opportunity to request a record of the advice; and".

Financial services guide given by authorised representative—compliance with statement
 (2) For paragraph 951C(1)(c) of the Act, Part 7.7 of the Act applies as if subsection 942C(8) were omitted and the following subsection were substituted:
 "(8) If:
 (a) the Financial Services Guide includes a statement to the effect that a client may request a record of further advice; and
 (b) the client is provided with further advice to which that statement applies; and
 (c) the client has not already been provided with a record of that advice;
the providing entity must comply with a request made in accordance with that statement for a record of that advice.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1))."

7.7.10ADA  Website disclosure information
  For the purposes of paragraph 951C(1)(c) of the Act, Part 7.7 of the Act applies as if section 943N of the Act were omitted and the following section were substituted:
"943N  Record of advice must be provided in certain circumstances
  If:
 (a) the website disclosure information includes a statement to the effect that a client may request a record of further advice; and
 (b) the client is provided with further advice to which that statement applies; and
 (c) the client has not already been provided with a record of that advice;
the providing entity must comply with a request made in accordance with that statement for a record of that advice.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1))."

7.7.10AE  Situations in which Statement of Advice not required
  For paragraph 951C(1)(c) of the Act, Part 7.7 of the Act applies as if section 946B of the Act were omitted and the following section were substituted:
"946B  Situations in which a Statement of Advice is not required

First situation: further advice
 (1) The providing entity does not have to give the client a Statement of Advice for particular advice (the further advice) if subsection (2) or (2A) applies.
 (2) This subsection applies if:
 (a) the providing entity has previously given the client a Statement of Advice that set out the client's relevant personal circumstances in relation to the advice (the previous advice) set out in that Statement; and
 (b) the client's relevant personal circumstances in relation to the further advice (determined having regard to the client's objectives, financial situation and needs as currently known to the providing entity) are not