Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:4:p53
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 4 (pt 53/60)
Character Range: 956546–959290

providing entity is not required to include a statement or information mentioned in Part 7.7 of the Act in a Statement of Advice to the client if the Statement of Advice:
 (a) refers to the statement or information; and
 (b) provides sufficient details about the statement or information to enable the client:
 (i) to identify by a unique identifier the document, or part of the document, that contains the statement or information; and
 (ii) to decide whether or not to read the statement or information or obtain a copy of the statement or information; and
 (c) states that a copy of the statement or information may be obtained from the providing entity on request, at no charge.
 (2) Subject to subregulation (3), the providing entity must give the client the document, or part of the document (whichever is applicable), unless the providing entity has already given the document or part of the document to the client.
 (3) If the providing entity is an authorised representative of an Australian financial services licensee, the document, or part of the document (whichever is applicable), may be provided to the client:
 (a) by another authorised representative appointed by and acting on behalf of the licensee; or
 (b) by the licensee.
 (4) If the client requests a copy of a statement or information that the providing entity is not required to include in accordance with subregulation (1), the providing entity must provide the copy as soon as practicable, at no charge.
 (5) If a statement or information is not required to be included in a Statement of Advice because of subregulation (1), the statement or information is taken to be included in the Statement of Advice.
 (6) The exemption in subregulation (1) does not apply to a statement or information that is required by section 947D or 961H of the Act.

7.7.09BA  Statement of Advice from authorised representative
 (1) For paragraph 947C(2)(h) of the Act, a Statement of Advice given by an authorised representative in relation to a margin lending facility, or a margin lending facility whose limit is proposed to be increased, within the meaning of subsection 761EA(1) of the Act must include the following information:
 (a) whether the client has taken out a loan to fund the secured property or transferred securities contributed by the client for establishing the margin lending facility;
Note: This is sometimes referred to as 'double gearing'.
 (b) if a loan to fund the secured property or transferred securities contributed by the client for establishing the margin lending facility has been taken out—whether the security for the loan includes the primary residential property of the client;
 (c) whether there is a guarantor for the margin lending facility, and, if