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 962Y   FORM FOR CONSENTS  

962Y(1)    
For the purposes of this Division, the Minister may approve one or more forms for giving consent in relation to one or more of the following:

(a)    entering into an ongoing fee arrangement;

(b)    renewing an ongoing fee arrangement;

(c)    deducting an amount in respect of ongoing fees from an account;

(d)    arranging to deduct an amount in respect of ongoing fees from an account.

Note: Despite consent being given in an approved form, an account provider (other than the fee recipient) may request additional information from the fee recipient before deducting ongoing fees from an account.

962Y(2)    
If the Minister has approved a form under subsection (1) , a consent given for the purposes of this Division must be in the approved form.