Document ID: chunk:federal_register_of_legislation:F2023C01164:body:0:p7
Version: federal_register_of_legislation:F2023C01164
Segment Type: other
Provision Reference: 
Character Range: 15892–18664

(8F) is satisfied; and
(ii) subsection (8G) is satisfied.
(8A) This subsection is satisfied if:
(a) both of the following are satisfied:
(i) the responsible entity reasonably believes that the member has been given a copy of the disclosure document for the accessible securities that would have been required had the accessible securities been offered to the member directly at the time of the acquisition of the accessible securities;
(ii) the responsible entity has no reason to believe that the disclosure document is defective as if it were prepared at that time; or
(b) the responsible entity reasonably believes that the accessible securities could lawfully have been offered and issued or sold, as the case may be, to the member directly without the member being required to be given a disclosure document other than because of subsection 708(1).
(8B) This subsection is satisfied if:
(a) the responsible entity reasonably believes that the member has been given a copy of the Product Disclosure Statement for the accessible financial product that would have been required had the financial product been offered to the member directly at the time of the acquisition of the financial product; and
(b) the responsible entity has no reason to believe the Product Disclosure Statement is defective as if it were prepared at the time of the acquisition.
(8C) This subsection is satisfied if:
(a) the responsible entity reasonably believes that the accessible financial product could lawfully have been offered and issued or sold, as the case may be, to the member directly without the member being given a Product Disclosure Statement other than because of section 1012E; and
(b) the responsible entity has no reason to believe that a Product Disclosure Statement would have been required to be given to the member if all other holdings of the financial product in custodial arrangements had been issued to the clients (as defined in section 1012IA) of those arrangements.
Note: Under section 601ED, a managed investment scheme does not generally need to be registered if it has no more than 20 members. If interests held through custodial arrangements such as IDPSs, IDPS-like schemes and nominee and custody services had been acquired directly, the scheme may have required registration as it may have had more than 20 members.
(8D) This subsection is satisfied if:
(a) the member already holds an accessible financial product of the same kind through the scheme; and
(b) the responsible entity has given the member a Product Disclosure Statement for a financial product of the same kind; and
(c) the responsible entity reasonably believes that the member has access to, and knows that they have access to, a Product Disclosure Statement for the financial product; and