Contents of section 9 (How to open an account)
11 Contents of section 9 (How to open an account)
Section 9 of the Product Disclosure Statement must, if applicable:
describe, in the form of a summary, how to open an account with the superannuation provider; and
explain the cooling‑off period that applies to the superannuation product; and
explain how to make a complaint (by means that include the provision of relevant contact details).
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”.
The superannuation trustee:
may provide more detailed information about cooling‑off periods, complaints and dispute resolution; and
may provide that information by applying, adopting or incorporating a matter in writing.
This Act’s bill:Explanatory statement
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