Commonwealth Consolidated Regulations Commonwealth Consolidated RegulationsFor subsection 766A(2) of the Act, a financial product issuer is not taken to provide a financial service if:
(a) the issuer gives advice to another person about:
(i) a particular financial product or class of financial products issued by the issuer; or
(ii) an interest in a particular financial product or a class of financial products issued by the issuer; and
(b) the advice is not personal advice; and
(c) the advice is given to the person at the same time as the issuer:
(i) advises the person that the issuer is not licensed to provide financial product advice in relation to the product, class or interest, as the case may be; and
(ii) recommends to the person that the person obtain a Product Disclosure Statement, if appropriate, and read it before making a decision to acquire the product or a product from the class of products, as the case may be; and
(iii) if it is advice about the offer, issue or sale of a
financial product--notifies the person about the availability or otherwise of
a cooling - off regime that applies in respect of the acquisition of the
product, a product from the class of products or an interest in a product as
the case may be (whether the regime is provided for by law or otherwise).