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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 962H  FEE DISCLOSURE STATEMENTS  

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962H(1)  

A fee disclosure statement, in relation to an ongoing fee arrangement, is a statement in writing that:


(a) includes the information required under this section; and


(b) relates to:

(i) a period of 12 months (the previous year) that ends on a day that is no more than 60 days before that on which the statement is given; and

(ii) any other period prescribed by the regulations.
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962H(2)  

The following information is required for a fee disclosure statement in relation to an ongoing fee arrangement, subject to subsection (3):


(a) the amount of each ongoing fee paid under the arrangement by the client in the previous year, expressed in Australian dollars unless an alternative is provided in the regulations;


(c) information about the services that the client was entitled to receive from the current and any previous fee recipient under the arrangement during the previous year;


(d) information about the services that the client received from the current and any previous fee recipient under the arrangement during the previous year;


(f) information about any other prescribed matters, including information that relates to a period that begins after the previous year.

962H(3)  

The regulations may provide either or both of the following:


(a) that particular information is not required for a fee disclosure statement, either in a particular situation or generally;


(b) a more detailed statement of the information that is required for a fee disclosure statement, either in a particular situation or generally.


 



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