Document ID: chunk:federal_register_of_legislation:F2024C00757:reg:1:p5
Version: federal_register_of_legislation:F2024C00757
Segment Type: reg
Provision Reference: reg 1 (pt 5/22)
Character Range: 57120–59941

the person or their eligible agent that the licensee reasonably believes is the address of the person or eligible agent; or
       (f) a copy of the document is given in accordance with any of paragraphs (a) to (e) and the giver takes reasonable steps to ensure that the document received by the person is complete and unaltered.
    (36) For the purposes of subsection (35):
       (a) an email is "sent" when the email would be taken to be dispatched under section 14 of the Electronic Transactions Act 1999 if it applied to that subsection; and
       (b) a document is taken to be a copy of another document regardless of:
           (i) immaterial differences in the sequence in which information is presented; and
           (ii) prompts and links if they are not likely to:
              (A) cause a reasonable person to confuse the contents of the document with another document; or
              (B) reduce the likelihood of a reasonable person reading any part of the document; and
           (iii) the absence from (or simplification in) the document of graphics of a promotional or decorative nature; and
           (iv) the inclusion in the document of codes or features to control the display of the document which do not otherwise alter the sense or content of the document.
PI Insurance
    (37) The licensee must maintain an insurance policy covering the professional indemnity of, and fraud by, officers of the licensee that:
       (a) is adequate having regard to the nature of the activities carried out by the operator under its Australian financial services licence; and
       (b) covers claims amounting in aggregate to the lesser of:
           (i) $5 million; or
           (ii) the sum of the value of all IDPS property of all IDPSs for which it is the operator, scheme property of all registered schemes for which it is the responsible entity and the value of the CCIV assets of all retail CCIVs for which it is the corporate director.
Policies of the IDPS
    (38) The licensee must ensure that the policies referred to in paragraph (5)(a) are in place in relation to the IDPS and are administered by the licensee or another operator.
    (39) If the licensee is responsible for administering the IDPS voting policy, it must ensure that the policy:
       (a) identifies the rights, if any, a client will have in relation to any voting rights attaching to accessible investments held through the IDPS; and
       (b) states whether a client may give directions to the licensee about exercising any voting rights arising from accessible investments; and
       (c) if the client may give directions about exercising voting rights:
           (i) require that the licensee will only vote when, and as, instructed by a client, including under a standing instruction; and
           (ii) require