Commonwealth Consolidated Acts Commonwealth Consolidated Acts(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.