222Membership option

222 Membership option

(1) For allocation points-based and PAYG points-based programs:

(a) the membership option must be the most common membership option purchased at the date of the Product Disclosure Statement; and

(b) if, at the date of the Product Disclosure Statement, no interests have been purchased by persons that are not associated with the responsible entity—the membership option must represent the membership option which the responsible entity reasonably believes will be the most common.

(2) For interval-based programs:

(a) the example of the week must be based on the interval purchased by the greatest number of persons not associated with the responsible entity during the 12-month period before the date of the Product Disclosure Statement;

(b) if no such purchases occurred during the 11-month period before the date of the Product Disclosure Statement—the example must be based on the interval owned by the greatest number of members who are not associated with the responsible entity; and

(c) if the responsible entity or its associates are the only members of the scheme—the example must be based on the interval the responsible entity reasonably expects will be purchased by the greatest number of persons not associated with the responsible entity.