For section 1444 of the Act, subsection 601ED(2) of the Act applies in relation to a managed investment scheme as if issues of interests that:
(a) were made before the issue of the interest was covered by Division 2 of Part 7.9 of the Act; and
(i) issues made after 12 March 2000 that would not have needed disclosure to investors under Part 6D.2 of the old Corporations Act if the scheme were registered; or
(ii) issues mentioned in section 1477 of the Corporations Law as in force on 14 July 2001 and as continued by section 1408 of the Act;
were issues in relation to which a Product Disclosure Statement is not required to be given under Division 2 of Part 7.9.