No not necessary, the term ‘Peanut Butter’ is also approved for use by FSA and it has its own definition under the code…
peanut butter means a peanut based spread.
2.10.4—4 Requirement for food sold as peanut butter
Food that is sold as ‘peanut butter’ must:
(a) be peanut butter; and
(b) contain not less than 850 g/kg of peanuts.
So Australia manufacturers has a right to meet the consumer’s expectation that a peanut spread with over 85% peanuts is called ‘peanut butter’.