(1) For section 1444 of the Act, this regulation applies in relation to an offer of a financial product if:
(a) the financial product is described in subsection 1012E(1) of the Act; and
(b) the financial product was offered before Division 2 of Part 7.9 of the Act applied to the product; and
(c) a disclosure document was not required under Chapter 6D of the old Corporations Act, in the course of the offer of the financial product; and
(d) the disclosure document was not required in accordance with a provision of section 708 of the old Corporations Act (other than subsection 708(1)).
(2) The offer is taken to comply with the condition set out in paragraph 1012E(9)(c) of the Act.