Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies to a Product Disclosure Statement that relates to foreign passport fund products that are ED securities.
(2) The Product Disclosure Statement must include a statement that:
(a) as a disclosing entity, the fund is subject to regular reporting and disclosure obligations; and
(b) copies of documents lodged with ASIC in relation to the fund may be obtained from, or inspected at, an ASIC office.
(3) The Product Disclosure Statement must either:
(a) inform people of their right to obtain a copy of the following documents:
(i) a copy of a report for the most recent financial year for the fund, prepared in accordance with the financial reporting requirements applying to the fund under the Passport Rules for the home economy for the fund;
(ii) a copy of each auditor's report that relates to the report mentioned in subparagraph (i); or
(b) include, or be accompanied by, a copy of that document or those documents.
(4) Subsections (5) and (6) apply if:
(a) the Product Disclosure Statement informs people of their right to obtain a copy of a document referred to in subsection (3); and
(b) a person asks the issuer (in the case of an issue Statement) or the seller (in the case of a sale Statement) for a copy of the document.
(5) The issuer or seller must give (see subsection (6)) the person a copy of the document:
(a) free of charge; and
(b) as soon as practicable, and in any event within 5 days, after receiving the person's request; and
(c) if the person asks the issuer or seller for a copy of the document in English--in English.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1)).
(6) In subsection (5), give means give in a way that
would satisfy requirements of section 1015C if the copy of the document
were a Statement to which that section applied.