Document ID: chunk:federal_register_of_legislation:C2022C00235:clause:2_4
Version: federal_register_of_legislation:C2022C00235
Segment Type: clause
Provision Reference: sch 2 cl 4
Character Range: 75102–76280

4  Subsection 1017G(1)
Repeal the subsection, substitute:
 (1) If:
 (a) particular financial products are, or have been, available for acquisition (whether by issue or sale) by a person or persons as retail clients; and
 (b) the issue or sale of those products is not covered by an Australian financial services licence;
both the issuer, and any regulated person obliged under subsection 1012C(5), (6) or (8) to give a retail client a Product Disclosure Statement for one or more of those financial products, must each:
 (c) have a dispute resolution system complying with subsection (2); and
 (d) give to ASIC the same information as the issuer or regulated person would be required to give under subparagraph 912A(1)(g)(ii) of that Act if the issuer or regulated person were a financial services licensee.
Note 1: If the issue of particular financial products is covered by an Australian financial services licence, the requirement to have a dispute resolution system relating to the issue of the products is imposed by paragraph 912A(1)(g).
Note 2: Failure to comply with this subsection is an offence (see subsection 1311(1)).

National Consumer Credit Protection Act 2009