Document ID: chunk:federal_register_of_legislation:F2022C01223:body:0:p2
Version: federal_register_of_legislation:F2022C01223
Segment Type: other
Provision Reference: 
Character Range: 2791–5897

947B(2)(h), 947C(2)(i) and 947D(2)(d) of the Act in relation to information about
non-monetary benefits or interests to be disclosed in accordance with paragraph 947B(2)(d), subparagraph 947B(2)(e)(i), paragraph 947C(2)(e), subparagraph 947C(2)(f)(i) and paragraph 947D(2)(a) of the Act in a Statement of Advice.
(2) The exemptions in subsection (1) apply where the Statement of Advice includes the following information about the non-monetary benefit or interest:
(a) the nature and extent of the non-monetary benefit or interest;
(b) for non-monetary benefits or interests which may be provided or that may arise in the future—the circumstances in which the
non-monetary benefit or interest may be provided or may arise;
(c) the estimated value of the non-monetary benefit or interest (expressed as an amount in dollars or a range of amounts in dollars) where a retail client would reasonably require such an estimated value for the purposes of deciding whether to act on the advice provided.

Product Disclosure Statements
(3) A responsible person for a Product Disclosure Statement does not have to comply with paragraph 1013D(1)(m) of the Act in relation to information concerning non-monetary benefits to be disclosed in accordance with paragraph 1013D(1)(b) of the Act in the Statement.
(4) The exemption in subsection (3) applies where the Statement includes the following information:
(a) the nature and extent of the non-monetary benefit;
(b) for non-monetary benefits which may be provided or that may arise in the future—the circumstances in which the non-monetary benefit may be provided or may arise;
(c) the estimated value of the non-monetary benefit (expressed as an amount in dollars or a range of amounts in dollars) in cases where a retail client would reasonably require such an estimated value for the purposes of deciding whether to acquire the financial product.

7 Foreign currency amounts

Statements of Advice
(1) A providing entity does not have to comply with paragraphs 947B(2)(h), 947C(2)(i) and 947D(2)(d) of the Act to the extent that those provisions require an amount that is denominated in a foreign currency to be stated as an amount in Australian currency in a Statement of Advice.

Product Disclosure Statements and periodic statements
(2) A responsible person does not have the comply with paragraph 1013D(1)(m) and subsection 1017D(5A) of the Act to the extent that those provisions require an amount that is denominated in a foreign currency to be stated as an amount in Australian currency in a Product Disclosure Statement or a periodic statement.

Endnotes

Endnote 1—Instrument history

Instrument number  Date of FRL registration      Date of commencement  Application, saving or transitional provisions
2016/767           18/8/2016 (see F2016L01299)   19/8/2016
2021/292           27/4/2021 (see F2021L00489)   Sch 1: 28/4/2021      -
                                                 Sch 2: 27/4/2022
2022/264           13/4/2022 (see F2022L00599)   14/4/2022             -
2022/1032          15/12/2022 (see F2022L01651)  16/12/2022            -

Endnote