For paragraph 1020G(1)(c) of the Act, section 1012D of the Act is modified by adding before subsection 1012D(10):
'(9G) In an issue situation or a sale situation, the regulated person does not have to give the client a Product Disclosure Statement for a financial product if:
(a) the financial product is a general insurance product; and
(b) the product would be provided to the person as a retail client; and
(c) the financial product would be provided as part of a contract of insurance that offers more than one kind of insurance cover; and
(d) the regulated person reasonably believes that the client does not intend to acquire the product.