CORPORATIONS ACT 2001
Ch 7 inserted by No 122 of 2001, s 3, Sch 1, Pt 1
1] (effective 11 March 2002).
As Act No 122 of 2001 repealed Ch 7 and 8 the history notes for Ch 7 use
and references to the former provisions have been removed.
FINANCIAL PRODUCT DISCLOSURE AND OTHER PROVISIONS RELATING TO ISSUE, SALE AND PURCHASE OF FINANCIAL PRODUCTS
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Pt 7.9 heading amended by No 141 of 2003, s 3, Sch 1
2] (effective 14 January 2004).
SECTION 1017BE OBLIGATIONS RELATING TO INVESTMENT OF ASSETS OF REGISTRABLE SUPERANNUATION ENTITIES
GIVING NOTICE TO ACQUIRERS UNDER CUSTODIAL ARRANGEMENTS
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This section applies if:
(a) a person (the
) enters into an arrangement (the
) with another person (the
(b) under the terms of the core arrangement, the second party is the acquirer in relation to a custodial arrangement under which the first party is the provider; and
(c) the first party knows, or reasonably ought to know that, under the core arrangement, the second party may acquire a financial product in this jurisdiction; and
(d) the first party knows, or reasonably ought to know, that an asset that is the subject of the core arrangement is, or is derived from, an asset of a registrable superannuation entity; and
(e) the core arrangement is not of a kind prescribed by the regulations as an arrangement to which this section does not apply.
The first party must, at the time the core arrangement is entered into, notify the second party of the following:
(a) that an asset that is the subject of the core arrangement is, or is derived from, the assets of a registrable superannuation entity;
(b) details of the trustee, or the trustees, of the registrable superannuation entity.
may apply in relation to an arrangement under which the second party actually acquires the financial product.
ASIC Class Order
CO 14/443], effective 22 May 2014, provides relief for the operation of s 1017BE(2). For details, see the CCH Note under s
In this section:
acquirer , in relation to a custodial arrangement, has the same meaning as in subsection
custodial arrangement has the same meaning as in subsection
provider , in relation to a custodial arrangement, has the same meaning as in subsection
S 1017BE inserted by No 171 of 2012, s 3, Sch 3, Pt 1 (effective 1 July 2013).