Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) For paragraph 1020G(1)(c) of the Act, this regulation applies in relation to the following financial products:
(a) an interest in a regulated superannuation fund that is not a public offer superannuation fund;
(b) an RSA that has been issued to the product holder because of the operation of subsection 52(4) of the RSA Act;
(c) an interest in an eligible rollover fund of which the product holder became a member under section 243 of the SIS Act;
(d) an interest in an eligible rollover fund of which the product holder became a member in the circumstances mentioned in section 89 of the RSA Act;
(e) an interest in a public offer superannuation fund that is not a successor fund if:
(i) the product holder is a standard employer - sponsored member of the fund; or
(ii) the product holder is a person who became a member of the fund in the circumstances mentioned in regulation 7.9.06B.
(2) Part 7.9 of the Act applies in relation to the financial products as if the following subsection were inserted after subsection 1017F(5A) of the Act:
'(5B) For a financial product mentioned in regulation 7.9.61D of the Corporations Regulations 2001 :
(a) subsection (5A) does not apply if the responsible person in relation to a transaction involving the financial product provides the holder of the financial product with a facility that is able to be accessed by the holder:
(i) by phone; or
(ii) by writing; or
(iii) by another method that the responsible person knows, or reasonably believes, that the product holder is able to use; and
(b) confirmation may be provided by means of the facility mentioned in paragraph (a).'.
(3) Part 7.9 of the Act applies in relation to the financial products as if paragraph 1017F(6)(a) of the Act were replaced by the following paragraph:
'(a) must be:
(i) by telephone; or
(ii) by writing; or
(iii) by another method that the responsible person knows, or reasonably believes, that the product holder is able to use; and'.