11Contents of section 9 (How to open an account)

11 Contents of section 9 (How to open an account)

(1) Section 9 of the Product Disclosure Statement must, if applicable:

(a) describe, in the form of a summary, how to open an account with the superannuation provider; and

(b) explain the cooling‑off period that applies to the superannuation product; and

(c) explain how to make a complaint (by means that include the provision of relevant contact details).

Note The effect of subclause 10 (1) is that the Product Disclosure Statement is not required to include section 8 (as set out in clause 10) if the superannuation product does not offer insurance cover. In that case, subclause 2 (2) allows the Statement to present the information in this clause as “section 8” or “section 9”.

(2) The superannuation trustee:

(a) may provide more detailed information about cooling‑off periods, complaints and dispute resolution; and

(b) may provide that information by applying, adopting or incorporating a matter in writing.

Schedule 10E Form and content of Product Disclosure Statement — simple managed investment scheme

(regulation 7.9.11W)