Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.7.08A

Combined Financial Services Guide and Product Disclosure Statement

             (1)  For subsection 942DA(1) of the Act, this regulation specifies the circumstances in which a Financial Services Guide and a Product Disclosure Statement may be combined in a single document.

          (1B)  This regulation does not apply if the Product Disclosure Statement is for a margin loan.

          (1C)  This regulation does not apply if the Product Disclosure Statement is for a superannuation product to which Subdivision 4.2B of Division 4 of Part 7.9 applies.

          (1D)  This regulation does not apply if the Product Disclosure Statement is for a simple managed investment scheme to which Subdivision 4.2C of Division 4 of Part 7.9 applies.

             (2)  A combined Financial Services Guide and Product Disclosure Statement may be issued as a single document if:

                     (a)  the providing entity for the financial service and the product issuer for a product issued in relation to that financial service are the same person; and

                     (b)  the document is divided into 2 separate parts:

                              (i)  a part identifiable as a Financial Services Guide that satisfies the requirements under the Act for a Financial Services Guide; and

                             (ii)  a part identifiable as a Product Disclosure Statement that satisfies the requirements for a Product Disclosure Statement; and

                     (c)  the title 'Combined Financial Services Guide and Product Disclosure Statement' is marked on or near the front of the document; and

                     (d)  the document is provided to a client at the earlier of the time at which a Financial Services Guide must be provided and the time at which a Product Disclosure Statement must be provided.

             (3)  A combined Financial Services Guide and Product Disclosure Statement may be issued as a single document if:

                     (a)  the providing entity for the financial service is a representative or a related body corporate of the product issuer; and

                     (b)  the product is only a basic deposit product, a non-cash payment facility that is related to a basic deposit product, a general insurance product or a life risk insurance product; and

                     (c)  the document is divided into 2 separate parts:

                              (i)  a part identifiable as a Financial Services Guide that satisfies the requirements under the Act for a Financial Services Guide; and

                             (ii)  a part identifiable as a Product Disclosure Statement that satisfies the requirements for a product Disclosure Statement; and

                     (d)  the title 'Combined Financial Services Guide and Product Disclosure Statement' is marked on or near the front of the document; and

                     (e)  the document clearly and prominently discloses:

                              (i)  the identity of the providing entity and the product issuer; and

                             (ii)  the nature of the relationship between the providing entity and the product issuer; and

                            (iii)  the liability of the providing entity and the product issuer in relation to the document; and

                      (f)  the document is provided to a client at the earlier of the time at which a Financial Services Guide must be provided and the time at which a Product Disclosure Statement must be provided.

             (4)  For the single document:

                     (a)  the Financial Services Guide and the Product Disclosure Statement may provide for matters by the use of cross-references to each other rather than by fully setting out material; and

                     (b)  if the document includes cross-references:

                              (i)  the document as a whole must include all of the information required by subsections 942B(6A) and 1013C(3) of the Act; and

                             (ii)  the use of the cross-references must not have the effect that the document is misleading or deceptive.



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