Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.7A - BEST INTERESTS OBLIGATIONS AND REMUNERATION  

Division 3 - Charging ongoing fees to clients  

Subdivision D - Common rules for consents under this Division  

SECTION 962X   OBLIGATION TO KEEP RECORDS OF COMPLIANCE  

962X(1)    
A fee recipient in relation to an ongoing fee arrangement must keep records sufficient to enable the fee recipient ' s compliance with this Division in relation to the ongoing fee arrangement to be readily ascertained.

Note 1: Failure to comply with this subsection is an offence: see subsection 1311(1) .

Note 2: For preservation of records, see section 1101C .

962X(2)    
The regulations may specify records that the fee recipient must keep as part of the obligation in subsection (1) .