Commonwealth Consolidated Acts

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Obligation to give updated Financial Services Guide

             (1)  If:

                     (a)  the providing entity has given a Financial Services Guide to the client under section 941A or 941B before 1 July 2021; and

                     (b)  the providing entity will provide a financial service to the client on or after 1 July 2021; and

                     (c)  paragraph 942B(2)(fa) or 942C(2)(ga), as inserted by Schedule 2 to the Financial Sector Reform (Hayne Royal Commission Response No. 2) Act 2021 , applies in relation to the providing entity and the financial service;

the providing entity must, before the financial service is provided to the client, give the client:

                     (d)  another Financial Services Guide that contains the statement required by whichever of the paragraphs referred to in paragraph (c) of this subsection is applicable; or

                     (e)  a Supplementary Financial Services Guide that contains that statement.

             (2)  Subsections 941A(1) and 941B(1) apply as if the reference in those subsections to "this Division" included a reference to this section.


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