Who must prepare Product Disclosure Statement
(1) A Product Disclosure Statement that: (a) is required to be given by section 1012A (otherwise than in a situation in which the recommendation concerned relates to an offer described in subsection 1012C(3) or (4)); or (b) is required to be given by section 1012B; or (c) section 1012H requires an issuer to take reasonable steps to ensure is given to a new group member; or (d) is required to be given by section 1012I; must be a document that has been prepared by the issuer of the financial product. A Product Disclosure Statement of this kind is an issue Statement. (2) A Product Disclosure Statement that: (a) is required to be given by section 1012A in a situation in which the recommendation concerned relates to an offer described in subsection 1012C(3) or (4)); or (b) is required to be given by section 1012C; must be a document that has been prepared by the person making the offer to sell the financial product. A Product Disclosure Statement of this kind is a sale Statement. (3) The person by whom, or on whose behalf, a Product Disclosure Statement for a financial product is required to be prepared is the responsible person for the financial product. (4) For the purposes of this Part, a Product Disclosure Statement prepared on behalf of a person is taken to be prepared by the person.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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