Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p7
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 7/43)
Character Range: 1282238–1284921

of the benefit, cost, amount or payment as a percentage of a specified matter (including worked dollar examples, unless that is inappropriate).
 (2) For paragraph 1013D(1)(m) of the Act, if ASIC determines that, for a compelling reason, it is not possible to state information to be disclosed in accordance with paragraph 1013D(1)(b), (d) or (e) as an amount in dollars, or to describe the amount as a percentage, the information may be set out as a description of the method of calculating the benefit, cost, amount or payment (including worked dollar examples, unless that is inappropriate).
 (3) A determination under subregulation (1) or (2) must be:
 (a) in writing; and
 (b) published in the Gazette.

7.9.15C  Product Disclosure Statements—disclosure of dollar amounts
 (1) For paragraph 1013D(1)(m) of the Act, if ASIC determines that, for a compelling reason based on the nature of a financial product or service, or the nature of the information, to state the information as an amount in dollars:
 (a) would impose an unreasonable burden on a product issuer, or a class of product issuers; or
 (b) would impose an unreasonable burden on a product issuer, or a class of product issuers, within a period specified in the determination; or
 (c) would not be in the interests of a client, or a class of clients;
the information may be set out as a description of the amount as a percentage of a specified matter (including worked dollar examples, unless that is inappropriate).
 (2) For paragraph 1013D(1)(m) of the Act, if ASIC determines that, for a compelling reason, based on the nature of a financial product or service, or the nature of the information, to state the information as an amount in dollars, or to describe the amount as a percentage:
 (a) would impose an unreasonable burden on a product issuer, or a class of product issuers; or
 (b) would impose an unreasonable burden on a product issuer, or a class of product issuers, within a period specified in the determination; or
 (c) would not be in the interests of a client, or a class of clients;
the information may be set out as a description of the method of calculating the charge or benefit (including worked dollar examples, unless that is inappropriate).
 (3) A determination under subregulation (1) or (2) must be:
 (a) in writing; and
 (b) published in the Gazette.
 (4) For paragraph 1013D(1)(m) of the Act, for a Product Disclosure Statement that is required in relation to a general insurance product, if:
 (a) information is required to be stated in dollars; and
 (b) the amount can only be determined:
 (i) after the responsible person assesses the risk of the insured; or
 (ii) after the insured