Document ID: chunk:federal_register_of_legislation:F2022C01200:body:0:p8
Version: federal_register_of_legislation:F2022C01200
Segment Type: other
Provision Reference: 
Character Range: 18554–21637

the same means, to the disclosure document; and

               (b) the application form included the following information:

                  (i) the identity of the issuer, the nature of the securities being offered, the price of the securities, the date of the disclosure document and the expiry date of the disclosure document;

                  (ii) a prominent statement to the effect that:

                      (A)   there is a disclosure document with information about investing in the securities; and

                      (B)   it is advisable to read the disclosure document before applying for the securities.".

        (2)          Part 7.9 of the Act applies to a person issuing or selling a relevant financial product as if section 1016A were modified or varied by, after subsection (2), inserting:

           "Licensee personalised application forms

           (2A) Despite subsection (2), and subject to subsection (2B), a restricted issue or restricted sale of a relevant financial product to a recipient may be made pursuant to an application form that was distributed by a financial services licensee to the applicant.

           (2B) The financial product may only be issued or sold under subsection (2A) by a person where:

               (a)     the person has reasonable grounds to believe that a Product Disclosure Statement relating to the product has been given or made available by nominated electronic means to the applicant and was not defective at the time of the application; and

Note:  The definition of nominated electronic means is notionally inserted into section 761A by subsection 5(1) of ASIC Corporations (Facilitating Electronic Delivery of Financial Services Disclosure) Instrument 2015/647.

               (b)    the application form included the following information:

                  (i)      the identity of the issuer, the nature of the financial products being offered and the date of the Product Disclosure Statement;

                  (ii)    a prominent statement to the effect that the applicant should have been given or have had made available to them by an electronic means, a Product Disclosure Statement that is required by law to enable the applicant to make an informed decision about acquiring the financial product.".

           Note:  Part 7.9 applies to CCIVs subject to modifications: see, in particular, section 1241W (which modifies section 1016A).

10 Requirement to include applicant's date of birth in the application form
    Part 7.9 of the Act applies in relation to a managed investment product, a foreign passport fund product and a security in a CCIV as if paragraph 7.9.74(1)(b) of the Corporations Regulations 2001 were modified or varied by, after "birth", inserting "or a statement that the applicant is at least 18 years of age".

11 Application forms where no PDS required
    Part 7.9 of the Act applies in relation to a person who issues or sells a relevant financial product as if section 1016A were modified or varied as follows:
(a) in the definition of restricted