Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteIt is a condition of an ongoing fee arrangement that the arrangement terminates if: (a) the client has not given a written consent in relation to the arrangement that complies with the requirements in section 962G ; or (b) all of the following apply:
(i) the client has given a written consent in relation to the arrangement that complies with the requirements in section 962G ;
(ii) that consent has ceased to have effect under section 962H ;
(iii) the client has not given a new consent that meets the requirements in section 962G in relation to the arrangement in the period specified in paragraph 962H(1)(b) .
962F(2)
The client is not taken to have waived the client ' s rights under the condition in subsection (1) (subject to subsection (3) ), or to have entered into a new ongoing fee arrangement, if the client makes a payment of an ongoing fee after the arrangement terminates under subsection (1) .
962F(3)
However, if the client makes a payment of an ongoing fee after the arrangement terminates under subsection (1) , the fee recipient is not obliged to refund the payment.
Note: A Court may order that the fee recipient refund the amount (see section 1317GA ).
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