Corporations Act 2001

CHAPTER 10 - TRANSITIONAL PROVISIONS  

PART 10.46 - APPLICATION AND TRANSITIONAL PROVISIONS RELATING TO SCHEDULE 1 TO THE FINANCIAL SECTOR REFORM (HAYNE ROYAL COMMISSION RESPONSE NO. 2) ACT 2021  

Division 3 - Existing ongoing fee arrangements  

SECTION 1673E   TRANSITIONAL - EXISTING OBLIGATION TO GIVE A RENEWAL NOTICE AND FEE DISCLOSURE STATEMENT UNDER SECTION 962K  

1673E(1)    
This section applies if:

(a)    a renewal notice day for the ongoing fee arrangement occurs before 1 July 2021; and

(b)    the period of 60 days beginning on the renewal notice day ends on or after 1 July 2021; and

(c)    before 1 July 2021 the current fee recipient in relation to the ongoing fee arrangement has not given a renewal notice and a fee disclosure statement in relation to the ongoing fee arrangement in accordance with the obligation arising under section 962K (as in force before 1 July 2021) in relation to the renewal notice day.

1673E(2)    
The obligation on the fee recipient to give the renewal notice and fee disclosure statement within the 60 day period beginning on the renewal notice day ceases on 1 July 2021.

1673E(3)    
However, to the extent that the fee disclosure statement referred to in subsection (2) would have been required to include information in relation to a period that would not otherwise be required to be included in a fee disclosure statement given under section 1673C , the fee disclosure statement given under that section must include that information.