ASIC Corporations (Financial Services Guides) Instrument 2015/541 made under section 951B of the Corporations Act 2001 Compilation No. 1 Compilation date: 25 October 2024 Includes amendments: F2024L01349 About this compilation This compilation This is a compilation of the ASIC Corporations (Financial Services Guides) Instrument 2015/541 that shows the text of the law as amended and in force on 25 October 2024 (the compilation date). The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law. Uncommenced amendments The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law. Application, saving and transitional provisions for provisions and amendments If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes. Modifications If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law. Self‑repealing provisions If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes. Contents Part 1—Preliminary 1 Name of legislative instrument 3 Authority 4 Definitions Part 2—Exemption 5 Financial Services Guides—secondary services Part 3—Declaration 6 Financial product advice—information is publicly available on providing entity's website Endnotes Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history Part 1—Preliminary 1 Name of legislative instrument This is the ASIC Corporations (Financial Services Guides) Instrument 2015/541. 3 Authority This instrument is made under section 951B of Corporations Act 2001. 4 Definitions In this instrument: Act means Corporations Act 2001. Intermediary authorisation has the same meaning as in paragraph 911A(2)(b) of the Act. Part 2—Exemption 5 Financial Services Guides—secondary services (1) This section applies in relation to a Financial Services Guide that a person must give in relation to the provision of a financial services to the extent the Financial Services Guide: (a) must be given in a way required by section 940C of the Act; and (b) must be given at the same time required by subsection 941D(1) of the Act; and (c) must have a title in accordance with subsection 942A(1) of the Act; and (d) must not be combined with a Product Disclosure Statement in contravention of subsection 942DA(3) of the Act. Expert reports (2) A financial services licensee (the expert) or an authorised representative (the expert) of a financial services licensee that, acting in their capacity as an expert, provides general advice in a report or statement (the expert's report) that is included in a document (the principal document) prepared by or on behalf of another person (the principal) does not have to comply with subsection 941A(1) or 941B(1) of the Act in relation to a Financial Services Guide that the expert must give in relation to the provision of the advice, provided all of the following are satisfied: (a) the expert is neither: (i) the person who prepared the principal document; or (ii) an employee or a director of the principle; (b) the expert's report: (i) forms a separate and clearly identifiable part of the principal document; and (ii) bears an expression at or near the front of the report that makes to clear that it is both an expert's report and a Financial Services Guide; (c) the Financial Services Guide forms a separate and clearly identifiable part of the expert's report. (d) the principal document prominently discloses the following information: (i) the respective names of: (A) the expert; (B) the principal; and (C) the person for whom, or on whose behalf, the expert's report was prepared. Note: The person for whom, or on whose behalf, the expert's report was prepared may or may not be the principal. (ii) the nature of the relationship between expert and: (A) the principal; and (B) the person for whom, or on whose behalf, the expert's report was prepared; (iv) the extent of the liability of the expert in relation to the principal document and the expert's report. Arrangers acting under intermediary authorisations (3) A financial services licensee (the intermediary) or an authorised representative (the intermediary) of a financial services licensee that provides a financial service consisting of arranging for the issue of a financial product by a person (the product provider) under an intermediary authorisation does not have to comply with subsection 941A(1) or 941B(1) of the Act in relation to a Financial Services Guide that the intermediary must give in relation to the provision of the financial service, provided both of the following are satisfied: (a) the Financial Services Guide: (i) forms a separate and clearly identifiable part of the Product Disclosure Statement for the financial product; and (ii) bears the expression "Financial Services Guide" at or near the front of the part of the Product Disclosure Statement that is the Financial Services Guide; (b) the Financial Services Guide prominently discloses the following information: (i) the respective names of: (A) the intermediary; (B) the product provider; (C) where the intermediary is an authorised representative—the financial services licensee on whose behalf the intermediary acts in relation to the intermediary authorisation; (ii) the nature of the relationship between the product provider and: (A) the intermediary; and (B) where the intermediary is an authorised representative—the financial services licensee on whose behalf the intermediary acts in relation to the intermediary authorisation. Part 3—Declaration 6 Financial product advice—information is publicly available on providing entity's website (1) Part 7.7 of the Act applies in relation to a financial services licensee and an authorised representative of a financial services licensee as if subsection 941C(5A) were modified or varied by omitting paragraph 941C(5A)(a) and substituting: "(a) the financial service provided to the client is: (i) financial product advice; or (ii) dealing in a financial product for the purpose of implementing financial product advice that was provided to the client by the providing entity; and". Endnotes Endnote 1—About the endnotes The endnotes provide information about this compilation and the compiled law. The following endnotes are included in every compilation: Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history Abbreviation key—Endnote 2 The abbreviation key sets out abbreviations that may be used in the endnotes. Legislation history and amendment history—Endnotes 3 and 4 Amending laws are annotated in the legislation history and amendment history. The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation. The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law. Misdescribed amendments A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003. If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and "(md not incorp)" is added to the amendment history. Endnote 2—Abbreviation key ad = added or inserted orig = original am = amended par = paragraph(s)/subparagraph(s) amdt = amendment /sub‑subparagraph(s) c = clause(s) pres = present C[x] = Compilation No. x prev = previous Ch = Chapter(s) (prev…) = previously def = definition(s) Pt = Part(s) Dict = Dictionary r = regulation(s)/rule(s) disallowed = disallowed by Parliament reloc = relocated Div = Division(s) renum = renumbered exp = expires/expired or ceases/ceased to have rep = repealed Effect rs = repealed and substituted F = Federal Register of Legislation s = section(s)/subsection(s) gaz = gazette Sch = Schedule(s) LA = Legislation Act 2003 Sdiv = Subdivision(s) LIA = Legislative Instruments Act 2003 SLI = Select Legislative Instrument (md not incorp) = misdescribed amendment SR = Statutory Rules cannot be given effect Sub‑Ch = Sub‑Chapter(s) mod = modified/modification SubPt = Subpart(s) No. = Number(s) underlining = whole or part not o = order(s) commenced or to be commenced Ord = Ordinance Endnote 3—Legislation history Name Registration Commencement Application, saving and transitional provisions ASIC Corporations (Financial Services Guides) Instrument 2015/541 24/8/2015 (see F2015L01308) 25/8/2015 - ASIC Corporations (Amendment) Instrument 2024/809 24/10/2024 (see F2024L01349) 25/10/2024 - Endnote 4—Amendment history Provision affected How affected Section 2 rep. s48D LA (s48D LA repeals a provision that provides solely for commencement) Section 6 ad. 2024/809