Australian Securities and Investments Commission Corporations (Financial Services Guide Given in a Time Critical Situation) Instrument 2022/498 (Cth)

ASIC Corporations (Financial Services Guide Given in a Time Critical Situation) Instrument 2022/498

I, Jane Eccleston, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date    9 June  2022

Jane Eccleston

Contents

Part 1—Preliminary

1    Name of legislative instrument

2    Commencement

3    Authority

4    Definitions

Part 2—Declaration

5    Information in a Financial Services Guide given in a time critical situation

Part 3—Repeal

6    Repeal

Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Financial Services Guide Given in a Time Critical Situation) Instrument 2022/498.

2        Commencement

This instrument commences at the same time that ASIC Corporations (Repeal) Instrument 2022/499 commences.

3        Authority

This instrument is made under paragraph 951B(1)(c) of the Corporations Act 2001.

4        Definitions

In this instrument:

Act means the Corporations Act 2001.

Part 2—Declaration

5        Information in a Financial Services Guide given in a time critical situation

Part 7.7 of the Act applies in relation to a financial services licensee and an authorised representative of a financial services licensee as if Division 2 of that Part were modified or varied by omitting section 941E and substituting:

“941E Information must be up to date

(1)     Subject to subsection (2), the information in a Financial Services Guide must be up to date as at the time when it is given to the client.

(2)     The information in a Financial Services Guide given to a client under subsection 941D(4) may be up to date as at the time the statement referred to in that subsection is given to the client.

Note:    A Supplementary Financial Services Guide containing updated information may be given with a Financial Services Guide that has become out of date. The updated information is taken to be included in the Financial Services Guide (see section 943D.)”.

Part 3—Repeal

6        Repeal

This instrument is repealed on 1 October 2027.