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ARTICLE · 10 DECEMBER 2008

Product Disclosure Statements

On 2 September 2008, ASIC issued Regulatory Guide 46 which aimed at improving disclosure by unlisted property funds. The guide promotes eight disclosure principles to be applied to product disclosure statements dated on or after 30 November 2008.

AustraliaCorporate/Commercial Law
Wendy Shang
Wendy Shang
  1. PDS Disclosure Principles

On 2 September 2008, ASIC issued Regulatory Guide 46 which aimed at improving disclosure by unlisted property funds. The guide promotes eight disclosure principles to be applied to product disclosure statements dated on or after 30 November 2008.

As a reminder, the implementation timetable is as follows:

Date Required Action
By 30 November 2008 – open funds Responsible entities of open funds should provide existing investors with updated information covered by the disclosure principles (e.g. in a regular investor update or by including the information on a website that is used to communicate with investors).
By 30 November 2008 - PDSs that are dated before 30 November 2008 but remain in use

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