ASIC Corporations (Deposit Product Disclosure) Instrument 2025/509

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ASIC Corporations (Deposit Product Disclosure) Instrument 2025/509

I, Nathan Bourne, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Date 3 September 2025

Nathan Bourne

Contents

Part 1—Preliminary 3

1 Simplified outline of this legislative instrument......................3

2 Name of legislative instrument....................................3

3 Commencement...............................................3

4 Authority....................................................3

5 Definitions...................................................3

Part 2—Exemptions 4

6 Requirement to disclose interest rates in Product Disclosure Statements...4

7 Requirement to disclose termination values in periodic statements........4

Part 3—Repeal 4

8 Repeal.......................................................4

Part 1—Preliminary

1. Simplified outline of this legislative instrument

This instrument applies to issuers of deposit products and other regulated persons.

It exempts regulated persons from the requirement for a Product Disclosure Statement for a deposit product to specify the interest rate. The exemption applies in specified circumstances.

It also exempts issuers of deposit products from including the termination value in periodic statements.

2 Name of legislative instrument

This is the ASIC Corporations (Deposit Product Disclosure) Instrument 2025/509.

3 Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislative Instruments.

Note: The register may be accessed at www.legislation.gov.au.

4 Authority

This instrument is made under paragraph 1020F(1)(a) of the Corporations Act 2001.

5 Definitions

In this instrument:

Act means the Corporations Act 2001.

Part 2—Exemptions

6 Requirement to disclose interest rates in Product Disclosure Statements

(1) A regulated person does not have to comply with Division 2 of Part 7.9 of the Act to the extent that it requires a Product Disclosure Statement in relation to a deposit product to specify the interest rate for the deposit product.

Where exemption applies

(2) The exemption in subsection 6(1) applies where the responsible person for the Product Disclosure Statement takes reasonable steps to:

(a) ensure that the Product Disclosure Statement clearly and prominently states how a person may find out the interest rate (the current interest rate) that currently applies to the deposit product; and

(b) provide a simple and convenient means by which a person may find out the current interest rate at no cost.

7 Requirement to disclose termination values in periodic statements

An issuer of a deposit product does not have to comply with subsection 1017D(1) of the Act to the extent that it requires a periodic statement to include the termination value in accordance with paragraph 1017D(5)(b) of the Act.

Part 3—Repeal

8 Repeal

This instrument is repealed at the start of 1 October 2030.