Corporations Regulations 2001
(regulations 7.9.16K , 7.9.16M and 7.9.16N )
PART 1 - INTERPRETATION 102 Meaning of management costs 102(1)Management costs , for a collective investment product, means any of the following: (a) for a product that is a managed investment product for a managed investment scheme - an amount payable for administering the managed investment scheme; (aa) for a product that is a security in a retail CCIV that is referable to a sub-fund of the CCIV - the amount payable for administering the sub-fund; (b) for a custodial arrangement - the cost involved, or amount paid or payable, for gaining access to, or participating in, the arrangement; (c) distribution costs; (d) for a product that is a managed investment product for a managed investment scheme or is a security in a retail CCIV that is referable to a sub-fund of the CCIV - other expenses and reimbursements in relation to the managed investment scheme or the sub-fund; (e) for a product that is a managed investment product for a managed investment scheme or is a security in a retail CCIV that is referable to a sub-fund of the CCIV - amounts paid or payable for investing in the assets of the managed investment scheme or in the assets of the sub-fund; (f) amounts deducted from a common fund by way of fees, costs, charges or expenses, including:
(i) amounts retrieved by an external fund manager or a product issuer; and
(g) estimated performance fees; (h) any other investment-related expenses and reimbursements, including any associated with custodial arrangements.
(ii) amounts deducted from returns before allocation to the fund;
102(2)
The following fees and costs are not management costs for a collective investment product: (a) a contribution fee; (b) transactional and operational costs; (c) an additional service fee; (d) an establishment fee; (e) a switching fee; (f) an exit fee; (g) a withdrawal fee; (h) costs (related to a specific asset or activity to produce income) that an investor would incur if he or she invested directly in the asset; (i) incidental fees.
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