Financial Markets Conduct Regulations 2014

61A Fund update must be given if PDS incorporates it by reference


This regulation applies if a PDS for an offer of managed investment products in a managed fund incorporates by reference a relevant fund update for a fund or other investment option (the fund or option) as referred to in clause 8A of Schedule 4.


For the purposes of section 96 of the Act, the manager of the managed fund must, before accepting contributions to, or investments in, the fund or option in respect of a retail investor, give the relevant fund update to the retail investor.


In this regulation, a relevant fund update means a fund update for the fund or option that—


is one of the 4 fund updates most recently made publicly available or (if regulation 56(2) applies) the fund update most recently made publicly available; and


includes the information required in the PDS by clauses 28, 33, and 37 of Schedule 4 for the fund or option (to the extent that the information is not contained in the PDS).

Regulation 61A: inserted, on 17 December 2015, by regulation 21 of the Financial Markets Conduct Amendment Regulations 2015 (LI 2015/276).