ASIC has given class order relief that
extends the current transitional relief from dollar disclosure
requirements for general insurance products (but not non-basic
Class Order [CO 07/123] Variation of Class Order [CO 05/683] Dollar disclosure: further transitional relief, extends
current transitional relief for issuers of general insurance products
from the dollar disclosure requirements in product disclosure
statements (PDS) from 1 April 2007 to 30 June 2008.
This extension of transitional relief from dollar
disclosure requirements for general insurance products to 30 June 2008
will allow time for the implementation of the Parliamentary Secretary
to the Treasurer’s reform proposal contained in Corporate and Financial Services Regulation Review.
Issuers of non-basic
deposit products will still have to comply with dollar disclosure
1 April 2007 upon the expiry of CO 06/476.