Commonwealth Consolidated Acts

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Product intervention orders may require notification

             (1)  A product intervention order in relation to a financial product may:

                     (a)  require that a specified person who has:

                              (i)  dealt in, or dealt in a specified way in, a financial product in relation to a retail client; or

                             (ii)  provided financial product advice, or a specified kind of financial product advice, to a retail client in relation to a financial product;

                            take reasonable steps to notify the retail client:

                            (iii)  of the terms of the order; and

                            (iv)  of any other matter specified in regulations made for the purposes of this subparagraph; and

                     (b)  specify requirements in relation to giving those notifications (including requirements as to the periods within which to give those notifications).

             (2)  In this section, dealing in a financial product has the meaning given by subsection 994A(1).

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