Document ID: chunk:federal_register_of_legislation:F2022L00762:body:0:p2
Version: federal_register_of_legislation:F2022L00762
Segment Type: other
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Character Range: 2888–5831

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Part 3—Declaration

8 Requirements for in-use notices of employer-sponsored superannuation
(1) Part 7.9 of the Act applies in relation to a responsible person for a Product Disclosure Statement or Supplementary Product Disclosure Statement for an interest in a public offer superannuation fund that is a standard employer-sponsored fund as if the provisions of that Part were modified or varied as follows:
(a) in subsection 1015D(2) omit "The", substitute "Subject to subsection (2A), the";
(b) after subsection 1015D(2) insert:
"(2A)  Where section 1015DA applies in relation to the Statement, the responsible person for the Statement does not have to lodge a notice under subsection (2) for so long as the person complies with section 1015DA in relation to the Statement and:
                  (a)          in the case where the Statement is a Product Disclosure Statement—in relation to any document that forms part of the Statement; and
                  (b)          in the case where the Statement is a Supplementary Product Disclosure Statement—in relation to any Statement supplemented by the Statement.";
(c) after section 1015D insert:

"1015DA Alternative notice facility for certain superannuation Statements

(1) This section applies in relation to:

(a) a Product Disclosure Statement for a superannuation product that is both:

(i) an accumulation product; and

(ii) an interest in a public offer superannuation fund that is a standard employer-sponsored fund;

                  where the Statement is made up of a common part and a variable choice part; and

(b) a Supplementary Product Disclosure Statement that supplements a Product Disclosure Statement of the kind referred to in paragraph (a), in relation to which a notice has not been lodged under subsection 1015D(2).
(2) The responsible person for the Statement must lodge with ASIC a notice (the primary notice) that complies with subsection (3) as soon as practicable, and in any event within 5 business days, after:
(a) the common part is first given to someone as part of any Product Disclosure Statement in a recommendation, issue or sale situation; or
(b) the Supplementary Product Disclosure Statement that relates to the common part is first given to someone in a recommendation, issue or sale situation to supplement any Product Disclosure Statement in relation to which this section applies.
(3) The primary notice must specify each Product Disclosure Statement that:
(a) includes the common part; and
(b) where paragraph (2)(b) applies—is supplemented by the Supplementary Product Disclosure Statement; and
(c) is given to someone in a recommendation, issue or sale situation before the lodgement of that notice.
(4) The responsible person for the Statement must lodge with ASIC as soon as practicable after the end of each financial year, and in any event within