Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.7 - FINANCIAL SERVICE DISCLOSURE  

Division 3 - Statement of Advice  

REGULATION 7.7.13   STATEMENT OF ADVICE PROVIDED BY AUTHORISED REPRESENTATIVE - DISCLOSURE OF DOLLAR AMOUNTS  

7.7.13(1)   [ Exception]  

For paragraph 947C(2) (i) of the Act, if ASIC determines that, for a compelling reason based on the nature of a financial product or service, or the nature of the information, to state the information as an amount in dollars:

(a) would impose an unreasonable burden on a providing entity, or a class of providing entities; or

(b) would impose an unreasonable burden on a providing entity, or a class of providing entities, within a period specified in the determination; or

(c) would not be in the interests of a client, or a class of clients;

the information may be set out as a description of the amount as a percentage of a specified matter (including worked dollar examples, unless that is inappropriate).

7.7.13(2)   [ Method of calculation]  

For paragraph 947C(2) (i) of the Act, if ASIC determines that, for a compelling reason, based on the nature of a financial product or service, or the nature of the information, to state the information as an amount in dollars, or to describe the amount as a percentage:

(a) would impose an unreasonable burden on a providing entity, or a class of providing entities; or

(b) would impose an unreasonable burden on a providing entity, or a class of providing entities, within a period specified in the determination; or

(c) would not be in the interests of a client, or a class of clients;

the information may be set out as a description of the method of calculating the remuneration, benefits or interests (including worked dollar examples, unless that is inappropriate).

7.7.13(3)   [ Publication]  

A determination under subregulation (1) or (2) must be:

(a) in writing; and

(b) published in the Gazette .