Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.9 - FINANCIAL PRODUCT DISCLOSURE AND OTHER PROVISIONS RELATING TO ISSUE AND SALE OF FINANCIAL PRODUCTS  

Division 5 - Ongoing requirements for product disclosure after person becomes a member  

Subdivision 5.2 - Periodic statements for retail clients for financial products that have an investment component: regulated superannuation funds, approved deposit funds and RSAs  

REGULATION 7.9.20A   DETAILS OF OTHER SIGNIFICANT BENEFITS - DISCLOSURE OF FEES, CHARGES OR EXPENSES  

7.9.20A(1)   [ Amount to be stated in dollars]  

For subsection 1017D(5A) of the Act, in providing details of a deduction for fees, charges or expenses in accordance with paragraph 7.9.20(1) (kb):

(a) the amount must be stated in dollars; or

(b) if ASIC determines that, for a compelling reason, it is not possible to state the amount of a deduction in dollars the amount of the deduction may be set out as a description of the fees, charges or expenses as a percentage of a specified matter (including worked dollar examples, unless that is inappropriate); or

(c) if ASIC determines that, for a compelling reason, it is not possible to state the amount of a deduction in dollars, or to set out the amount as a percentage, the product issuer may provide:

(i) a statement informing the holder of the product that amounts for fees, charges or expenses are applicable; and

(ii) if information about the deduction is not provided in the statement mentioned in sub-subparagraph 7.9.20(1) (ka)(ii)(B) - details of the means by which a product holder can gain access to information relating to the amount.

7.9.20A(2)   [ Form of publication]  

A determination under paragraph (1)(b) or (c) must be:

(a) in writing; and

(b) published in the Gazette .