Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:4:p1
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 4 (pt 1/49)
Character Range: 983338–986273

4         the definition of disclosure document or statement in subsection 953A(1)  inserting after paragraph (c) of the definition the following paragraph:
                                                                                    (ca) a record of advice required by subsection 946B(3A); or

7.7.10AI  Obligation to warn client that advice does not take account of client's objectives, financial situation or needs—carbon units, Australian carbon credit units and eligible international emissions units
  For paragraph 951C(1)(c) of the Act, Part 7.7 of the Act applies in relation to a carbon unit, an Australian carbon credit unit or an eligible international emissions unit as if paragraph 949A(2)(c) read as follows:
 "(c) if the advice relates to the acquisition, or possible acquisition, of a carbon unit, the providing entity must:
 (i) provide the client with the address of the website of the Clean Energy Regulator mentioned in section 202 of the Clean Energy Act 2011; and
 (ii) inform the client that the client should consider each statement mentioned in section 202 of the Clean Energy Act 2011 before making any decision about whether to acquire the financial product; and
 (d) if the advice relates to the acquisition, or possible acquisition, of an Australian carbon credit unit, the providing entity must:
 (i) provide the client with the address of the website of the Clean Energy Regulator mentioned in section 162 of the Carbon Credits (Carbon Farming Initiative) Act 2011; and
 (ii) inform the client that the client should consider each statement mentioned in section 162 of that Act before making any decision about whether to acquire the financial product; and
 (e) if the advice relates to the acquisition, or possible acquisition, of an eligible international emissions unit, the providing entity must:
 (i) provide the client with the address of the website of the Clean Energy Regulator mentioned in section 61 of the Australian National Registry of Emissions Units Act 2011; and
 (ii) inform the client that the client should consider each statement mentioned in section 61 of the Australian National Registry of Emissions Units Act 2011 before making any decision about whether to acquire the financial product.".

7.7.10A  Statements of Advice—requirement to state information as amounts in dollars
 (1) For paragraph 951C(1)(c) of the Act, Part 7.7 of the Act applies as if paragraph 947B(2)(h) of the Act were modified to read as follows:
 '(h) unless in accordance with the regulations and a determination by ASIC, information to be disclosed in accordance with paragraph (d) and subparagraph (e)(i) must be stated as amounts in dollars.'.
 (2) For paragraph 951C(1)(a) of the Act, a providing entity does not have to provide the information mentioned in paragraph 947B(2)(h) of the Act, in the form required by that paragraph, in a Statement of Advice prepared before 1 January 2005.
 (3)