Document ID: chunk:federal_register_of_legislation:F2024C01249:clause:10ba_1017h
Version: federal_register_of_legislation:F2024C01249
Segment Type: clause
Provision Reference: sch 10BA cl 1017H
Character Range: 2277335–2278787

1017H  Short‑Form PDS

Short‑Form PDS may be given instead of a Product Disclosure Statement in most cases
 (1) If a regulated person is required or obliged by this Act to give a Product Disclosure Statement for a financial product (but see subsection (4)) to another person, the regulated person may instead provide a Short‑Form PDS for the product.

Product Disclosure Statement must be given in certain circumstances
 (2) However, if the regulated person is requested by the other person to provide the Product Disclosure Statement the regulated person must provide the Product Disclosure Statement.

Responsible person
 (3) The responsible person for a Short‑Form PDS for a financial product is the person who is the responsible person for the Product Disclosure Statement for the product.

Short‑Form PDS not to be given for certain products
 (4) Subsection (1) does not apply in relation to the following:
 (a) a general insurance product;
 (b) a managed investment product in relation to an Australian passport fund;
 (ba) a security in a retail CCIV that is referable to a sub‑fund of the CCIV that is an Australian passport fund;
 (c) a foreign passport fund product.
 (5) To avoid doubt, nothing in Division 5AB of Part 7.9 of the regulations or in Part 3 of Schedule 10BA to the regulations permits a regulated person to give a Short‑Form PDS or a Supplementary Short‑Form PDS in relation to a financial product mentioned in subsection (4).