Application form —warningApplication form —warning

Application form –warning

(4) The responsible entity of an IDPS-like scheme must not issue an interest in the scheme to a person as a retail client in response to an application form unless: (a) the form contains a prominent warning that: (i) identifies the key areas of difference between acquiring a financial product directly and through the scheme, including any differences in respect of the rights referred to in paragraph (1)(a); (ii) if applicable, that a member may be adversely affected if the member has not engaged a person, or a person meeting particular requirements, to provide financial product advice to the member or provide instructions on behalf of the member in relation to accessible investments; and (b) the form contains cross-references (including page or paragraph references where applicable) to where further information on the matters mentioned in subparagraph (a)(i) and if applicable (a)(ii) can be located in the Product Disclosure Statement; and (c) in the case of: (i) a form that is submitted electronically—the part of the facility that allows the person applying for the interests to sign or submit the form contains a prominent statement; and (ii) otherwise—the form requires the person applying for the interests to sign an acknowledgement; to the effect that the person applying for the interest acknowledges the matters contained in the warning.