(1) Despite anything in section 1013D or 1013E, information, or a statement containing information, is not required to be included in a Product Disclosure Statement if it would not be reasonable for a person considering, as a retail client, whether to acquire the product to expect to find the information in the Statement.
(2) In considering whether it would not be reasonable for a person considering, as a retail client, whether to acquire the product to expect to find particular information in the Statement, the matters that may be taken into account include, but are not limited to:
(a) the nature of the product (including its risk profile); and
(b) the extent to which the product is well understood by the kinds of person who commonly acquire products of that kind as retail clients; and
(c) the kinds of things such persons may reasonably be expected to know; and
(d) if the product is an ED security that is not a continuously quoted security--the effect of the following provisions:
(i) Chapter 2M as it applies to disclosing entities;
(ii) sections 674, 674A, 675 and 675A; and
(e) the way in which the product is promoted, sold or distributed; and
(f) any other matters specified in the regulations.