Commonwealth Consolidated Regulations

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Product Disclosure Statement not required for offers of bundled contracts of insurance

                   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.

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