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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.7A - BEST INTERESTS OBLIGATIONS AND REMUNERATION    View history reference

Division 3 - Charging ongoing fees to clients    View history reference

Subdivision B - Termination, disclosure and renewal    View history reference

SECTION 962E  CLIENT MAY TERMINATE ARRANGEMENT AT ANY TIME  

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962E(1)  

It is a condition of the ongoing fee arrangement that the client may terminate the arrangement at any time.

962E(2)  

Any condition of the ongoing fee arrangement, or any other arrangement, that requires the client to pay an amount on terminating the ongoing fee arrangement is void to the extent that the amount exceeds the sum of:


(a) any liability that the client has accrued but not satisfied under the ongoing fee arrangement before the termination; and


(b) the costs of the current fee recipient incurred solely and directly because of the termination.


 



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