Document ID: chunk:federal_register_of_legislation:F2016L01490:body:0:p2
Version: federal_register_of_legislation:F2016L01490
Segment Type: other
Provision Reference: 
Character Range: 2837–5984

subsection 761E(6), taken to be the issuer:
                  (i) a financial services licensee (the intermediary licensee) who is not a participant in the relevant market; and
                  (ii) another financial services licensee (the market participant) who is a participant in the relevant market;
              may be a document that has only been prepared by the market participant.
           (6) Subsection (5) only applies in relation to an intermediary licensee and a market participant who have entered into a written agreement in relation to the derivative under which the intermediary licensee agrees to take reasonable steps to ensure that a person to whom the intermediary licensee:
              (a) offers to issue the derivative; or
              (b) offers to arrange for the issue of the derivative; or
              (c) makes a recommendation to acquire the derivative;
as a retail client is given:
              (d) a document that includes the statements and information referred to in section 1012L; and
              (e) a Product Disclosure Statement or Short-Form PDS for the derivative that has been prepared by the market participant.
(7) If a Product Disclosure Statement for the derivative is covered by subsection (5), the market participant is, in this Division, referred to as the responsible person for the derivative.";
       (c) after section 1013D(4) insert:
       "Exchange-traded derivatives: multiple issuers
(5) If the Product Disclosure Statement for a derivative is covered by subsection 1013A(5), the Statement does not have to include any statement or information that would not be required by subsection (1) if the derivative to which the Statement relates were only issued by the responsible person for the derivative, provided it includes statements to the effect that:
              (a) a person may enter (make an intermediary acquisition) or acquire (make an intermediary acquisition) the derivative to which the Statement relates as a result of an arrangement made by an intermediary licensee (within the meaning of subsection 1013A(5)) or their authorised representative; and
              (b) a person who makes an intermediary acquisition may not have any direct contact or relationship with the market participant; and
              (c) where a person has made an intermediary acquisition of the derivative:
                  (i) there may be additional risks associated with holding the derivative; and
                  (ii) additional fees and costs may apply; and
                  (iii) additional rights, terms, conditions and obligations may attach to the derivative; and
                  (iv) the person will have access to a dispute resolution system maintained by the intermediary licensee that covers complaints made by holders of the derivative; and
              (d) further information about the matters mentioned in paragraph (c) may be obtained from the intermediary licensee.";
       (d) at the end of section 1013E, insert on a new line:
       "If a Product Disclosure Statement for a derivative is covered by subsection 1013A(5), this section is to be applied as