Treasury Laws Amendment (Miscellaneous and Technical Amendments) Regulations 2021 (F2021L00848)

Schedule 1   Amendments

Part 2   Other amendments

Division 4   Fee disclosure statements

Corporations Regulations 2001

20   Regulation 7.7A.11

Repeal the regulation, substitute:

7.7A.11 Fee disclosure statements

Product fees

(1) For the purposes of paragraph 962H(3)(a) of the Act, information about a product fee mentioned in subregulation 7.7A.10(3) is not required by subsection 962H(2) or (2A) of the Act.

Ongoing fee arrangements during transition period

(2) For the purposes of paragraphs 962H(2)(f) and 962H(3)(a) of the Act, a fee disclosure statement for:

(a) an ongoing fee arrangement that is in force immediately before 1 July 2021; and

(b) a transition day (within the meaning of Part 10.46 of the Act);

is not required to include, but is required to include a reasonable estimate of, the following:

(c) an amount mentioned in paragraph 962H(2)(a) of the Act if the amount relates to the period of 60 days ending immediately before that transition day;

(d) information about a service mentioned in paragraph 962H(2)(d) of the Act if the service was received during the period of 60 days ending immediately before that transition day.

Note: This provision relates to sections 962G and 962H of the Act as modified for the 12-month transition period from 1 July 2021 to 30 June 2022: see section 1673C of the Act.