Financial Sector Reform (Hayne Royal Commission Response No. 2) Act 2021 (19 of 2021)

Schedule 1 Ongoing fee arrangements

Repeal the subsection, substitute:

Fee disclosure statement

(1) A fee disclosure statement for an ongoing fee arrangement and an anniversary day is a statement in writing that:

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

(b) relates to:

(i) the period of 12 months (the previous year ) ending immediately before the anniversary day; and

(ii) the period of 12 months (the upcoming year ) starting on the anniversary day.

(1A) A fee disclosure statement may also include other information.