Commonwealth Consolidated Regulations

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Right of return not to apply

                   For the purposes of paragraph 992AA(3)(a) of the Act, the following classes of financial products are excluded from section 992AA of the Act:

                     (a)  a financial product offered or issued under a distribution reinvestment plan or switching facility;

                     (b)  a financial product the acquisition of which is an additional contribution required by an existing agreement or contract;

                     (c)  a financial product issued as consideration for an offer made under a takeover bid under Chapter 6 of the Act;

                     (d)  an interim contract of insurance within the meaning of subsection 11(2) of the Insurance Contracts Act 1984 ;

                     (e)  a superannuation product that is issued in relation to:

                              (i)  a non-public offer superannuation entity; or

                             (ii)  a public offer superannuation entity mentioned in paragraph 7.6.01(1)(b), (c) or (d);

                      (f)  a risk insurance product that is:

                              (i)  of less than 12 months duration; and

                             (ii)  a renewal of an existing product on the terms and conditions to which the product is currently subject.

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