(1) If section 1015B of the Act does not require a copy of a Product Disclosure Statement to be lodged with ASIC, the Statement and a document, or part of a document, mentioned in the Statement must be retained by the responsible person for that Statement for 7 years after the date of the Statement.
Note: Responsible person has the same meaning as in section 1011B of the Act.
(2) This regulation does not apply if the Product Disclosure Statement is for:
(a) a margin loan; or
(b) a superannuation product to which Subdivision 4.2B of Division 4 of Part 7.9 applies; or
(c) a simple managed investment scheme to which Subdivision 4.2C of Division 4 of Part 7.9 applies.