Document ID: chunk:federal_register_of_legislation:F2023C00841:body:0:p19
Version: federal_register_of_legislation:F2023C00841
Segment Type: other
Provision Reference: 
Character Range: 48395–52060

using an agent to deliver a Product Disclosure Statement
    Part 7.9 of the Act applies in relation to a trustee of a superannuation entity, an operator of an IDPS and a responsible entity of an IDPS-like scheme as if that Part were modified or varied by, after subsection 1015C(3), inserting:
           "(3A)  Despite subsection (3), a Statement for accessible financial products may be given or sent to a person's agent who is acting in the capacity of a financial services licensee or an authorised representative of a financial services licensee if:
(a)  the Statement is given or sent by:
(i) the trustee of a superannuation entity for the purpose of complying with section 1012IA, paragraph 1013FB(4)(b) or section 1017CA; or
(ii) an operator of an IDPS for the purpose of complying with subsection 912AD(26); or
(iii) the responsible entity of an IDPS-like scheme for the purpose of complying with subsection 1013DAB(8); and
                  Note:  Sections 1013FB and 1017CA are notionally inserted by ASIC Corporations (Shorter PDS and Delivery of Accessible Financial Products Disclosure by Platform Operators and Superannuation Trustees) Instrument 2022/497. Subsection 912AD(26) is notionally inserted by  ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669. Subsection 1013DAB(8) is notionally inserted by ASIC Corporations (Investor Directed Portfolio Services Provided Through a Registered Managed Investment Scheme) Instrument 2023/668.
(b)     the trustee, operator or responsible entity has received evidence of a written agreement between the agent and the person that appoints the agent as the person's agent.
           (3B) A financial services licensee or authorised representative who receives a Statement as a person's agent must promptly give or send the Statement to the person.
           (3C) In this section:
           accessible financial product means a financial product that may be held through an IDPS, an IDPS-like scheme or a superannuation entity.
           IDPS has the same meaning as in ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669.
           IDPS-like scheme has the same meaning as in ASIC Corporations (Investor Directed Portfolio Services Provided Through a Registered Managed Investment Scheme) Instrument 2023/668.
           operator has the same meaning as in  ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669.".

Part 3—Repeal

8 Repeal

        This instrument is repealed on 1 October 2027.

Endnotes

Endnote 1—Instrument history

Instrument number  Date of FRL registration      Date of commencement  Application, saving or transitional provisions
2022/497           14/6/2022 (see F2022L00764)   15/6/2022
2022/0940          14/11/2022 (see F2022L01459)  15/11/2022            -
2023/670           31/8/2023 (see F2023L011161)  1/9/2023

Endnote 2—Amendment history
ad. = added or inserted     am. = amended     LA = Legislation Act 2003    rep. = repealed     rs. = repealed and substituted
Provision affected                                                                                         How affected
Section 2                                                                                                  rep. s48D LA
Section 4 (definition of IDPS)                                                                             am. 2023/670
Section 4 (definition of IDPS-like scheme)                                                                 am. 2023/670
Section 4 (definition of operator)                                                                         am. 2023/670
Section 4 (definition