Document ID: chunk:federal_register_of_legislation:F2024C00757:reg:1:p19
Version: federal_register_of_legislation:F2024C00757
Segment Type: reg
Provision Reference: reg 1 (pt 19/22)
Character Range: 93705–96639

specified intervals (each such acquisition is a regular savings acquisition); and
       (b) the client acknowledges that under the regular savings plan, a regular savings acquisition of an accessible financial product may occur without the client having been given a current Product Disclosure Statement in relation to the accessible financial product (missing document); and
       (c) the operator agrees to give access to the client to what it reasonably believes is the most current missing document relating to an accessible financial product (unless this would not be required if the acquisition were not under a regular savings plan) that may be acquired under the regular savings plan as soon as reasonably practicable and in any event by the fifth business day after the operator receives what the operator reasonably believes is the most current missing document; and
       (d) the client acknowledges that regular savings acquisitions will continue to be made under the regular savings plan until the client instructs the operator otherwise or the arrangement constituting the regular savings plan is terminated; and
       where the client:
       (e) before entering into the arrangement has been given an IDPS Guide containing a statement; and
       (f) has been given advice quarterly in writing,
       to the effect that the client may not have the current Product Disclosure Statement for an accessible financial product at the time a regular savings acquisition of the accessible financial product is made.
    regulated person has the same meaning as in section 1011B.
    sub-custodian means, in relation to a custodian engaged by the licensee, a person directly or indirectly engaged by the custodian to hold IDPS property.
    Supplementary IDPS Guide has the meaning given by subsection (14).
    transactional functions means:
       (a) acquisition and disposal of accessible investments in accordance with the instructions of the client or the terms of the IDPS contract; or
       (b) maintenance of records of investments of clients for the purposes of consolidated reporting functions under the IDPS.
    value of IDPS property means, in relation to an IDPS, the market value of the IDPS property of the IDPS.
(43) For the purposes of this section:
       (a) the circumstances in which the operator of an IDPS or a custodian acquires an accessible investment under a direction of a client include:
           (i) an allocation of entitlements relating to an accessible investment to the interest of the client in the IDPS; and
           (ii) an increased investment in an accessible financial product in respect of which a client's interest in the IDPS has been allocated entitlements;
       under a direction of the client; and
       (b) a financial product is of the same kind as another financial product if the products would be of the same kind for the purposes of section 1012D.
    (44) For