Document ID: chunk:federal_register_of_legislation:F2018C00552:body:0:p1
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ASIC Corporations (AFCA transition) Instrument 2018/447

About this compilation

Compilation No. 1

This is a compilation of ASIC Corporations (AFCA transition) Instrument 2018/447 as in force on 2 July 2018. It includes any commenced amendment affecting the legislative instrument to that date.

This compilation was prepared by the Australian Securities and Investments Commission.

The notes at the end of this compilation (the endnotes) include information
about amending instruments and the amendment history of each amended provision.

Contents

Part 1—Preliminary
1 Name of legislative instrument
3 Authority
4 Definitions
Part 2—Declarations and exemption
5 Financial Services Guide
6 Product Disclosure Statements
7 Material changes and significant events
8 Periodic statements
9 Statement about superannuation interest under Family Law Act
10 Requirement for relying on relief
Endnotes
Endnote 1—Instrument history
Endnote 2—Amendment history

Part 1—Preliminary

1 Name of legislative instrument
This is the ASIC Corporations (AFCA transition) Instrument 2018/447.

3 Authority
This instrument is made under subsections 951B(1) and 1020F of Corporations Act 2001.

4 Definitions
In this instrument:
Act means the Corporations Act 2001.
AFCA scheme has the meaning given by section 761A.
regulated person has the meaning given by section 1011B of the Act.
Regulations means the Corporations Regulations 2001.
Short-Form Product Disclosure Statement has the meaning given by section 761A as affected by regulation 7.9.61AA of the Regulations.

       Part 2—Declarations and exemption

5 Financial Services Guide
(1) Part 7.7 applies in relation to a financial services licensee and an authorised representative of such a licensee as if provisions of that Part were modified or varied by, in paragraphs 942B(2)(h) and 942C(2)(i), after "information", inserting "(that may be up to date or on or after 1 November 2018, reflect the position immediately before that date)".
(2) The declaration in subsection (1) applies in relation to the licensee or representative giving a Financial Services Guide before 1 July 2019 where:
(a) if the Guide is given on or after 1 November 2018—section 10 applies to the licensee or representative; and
(b) a Financial Services Guide in the same terms was first given before the commencement of this instrument.

6 Product Disclosure Statements
(1) Part 7.9 applies in relation to a regulated person as if provisions of that Part were modified or varied as follows:
           (a) in paragraph 1013D(1)(g), after "information", insert "(that may be up to date or on or after 1 November 2018, reflect the position immediately before that date)";
           (b) in item 9 of Schedule 10C to the Regulations, after subitem (1), insert:
               "(1A) The summary for the purposes of paragraph (1)(b) may be up to date or on or after 1 November 2018, reflect the position immediately before that date.".
           (c) in item 11 of Schedule 10D and