Document ID: chunk:federal_register_of_legislation:F2021C00160:body:0:p37
Version: federal_register_of_legislation:F2021C00160
Segment Type: other
Provision Reference: 
Character Range: 101218–103974

Disclosure Statements to which the election relates; and
(b) of the date or dates the election is made.
(4) If the responsible person elects to apply the declarations in this instrument to a Product Disclosure Statement for a financial product:
(a) the election is taken to also cover any subsequent Product Disclosure Statements for the financial product; and
(b) the declarations in this instrument apply to the Product Disclosure Statement and any subsequent Product Disclosure Statements for the financial product.
Note: The other effect of making an election in relation to a Product Disclosure Statement in accordance with subsection (3) is that ASIC Class Order [CO 14/1252] does not apply to the Product Disclosure Statement: see paragraph 12A of that class order.
(5) An election made under this section cannot be withdrawn.
(6) In this section:

            responsible person for a Product Disclosure Statement has the meaning given by subsection 1013A(3) of the Act.

8 Application to periodic statements
(1) The declarations in this instrument apply to periodic statements for reporting periods commencing on or after 1 July 2021.
(1A) The declarations in this instrument do not apply to a periodic statement covered by section 8C of ASIC Corporations (Time-sharing Schemes) Instrument 2017/272.

Election by the product issuer
(2) An issuer may, in accordance with subsection (3), elect to apply the declarations in this instrument to a periodic statement for a reporting period (an earlier reporting period) that:
(a) commences on or after 1 July 2020; or
(b) ends on a day (the exit date) that is on or after 1 July 2020 if the reporting period ends on the exit date because the holder of the product ceased to hold the product on the exit date.
(3) The issuer elects to apply the declarations in this instrument to a periodic statement for an earlier reporting period if the issuer makes a written record of:
(a) the financial products to which the election relates;
(b) the reporting periods to which the election relates; and
(c) the date or dates the election is made.
(4) If the issuer elects to apply the declarations in this instrument to a periodic statement for an earlier reporting period:
(a) the election is taken to also cover any periodic statements for any subsequent reporting periods; and
(b) the declarations in this instrument applies to the periodic statement and any periodic statements for any subsequent reporting periods.
Note: The other effect of making an election in relation to a periodic statement in accordance with subsection (3) is that ASIC Class Order [CO 14/1252] does not apply to the periodic statement: see paragraph 14 of that class order.
(5) An election made under this section cannot be withdrawn.