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

Schedule 1   Ongoing fee arrangements

Part 2   Consequential amendments

Corporations Act 2001

31   Subsection 1317E(3) (table item dealing with subsection 962S(1))

Repeal the item, substitute:

subsection 962R(4)

fee recipient must obtain consent to deduct ongoing fees from an account

uncategorised

subsection 962S(5)

fee recipient must obtain consent to arrange for deductions of ongoing fees from an account

uncategorised

subsection 962S(8)

fee recipient must not accept payment of ongoing fees resulting from a deduction from an account without consent

uncategorised

subsection 962U(3)

fee recipient to confirm receipt of variation or withdrawal of consent for deductions of ongoing fees

uncategorised

subsection 962V(3)

fee recipient to give written notice of cessation of consent to account provider

uncategorised


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