Corporations Regulations 2001
CCH note: This provision is modified by legislative instruments. See the CCH note at the end of the provision for details.
(regulations 7.9.16K , 7.9.16M and 7.9.16N )
PART 3 - FEES AND COSTS IN PERIODIC STATEMENTS Division 3 - Additional Explanation of Fees and Costs 303 Matters to be included as additional explanation of fees and costsSuperannuation products
303(1)
The following information must be included in the periodic statement for a superannuation product under the heading " Additional Explanation of Fees and Costs " , if it has not been included in another part of the periodic statement:
(a) details of any activity fees, advice fees and insurance fees that were incurred by the member during the period;
(b) for a superannuation product that is subject to tax - whether the benefit of any tax deduction has been passed on to the investor in the form of a reduced fee or cost;
(c) a statement that if the account balance for a MySuper product or a choice product offered by the superannuation entity is less than $6,000 at the end of the entity ' s income year:
(i) the total combined amount of administration fees, investment fees and indirect costs charged in relation to the MySuper product or a choice product is capped at 3% of the account balance; and
(ii) any amount charged in excess of that cap must be refunded.
Hide history note
View history noteCl 303(1) amended by FRLI No F2019L00539, Sch 1[20] (effective 6 April 2019).
Collective investment products
303(2)
The following information must be included in the periodic statement under the heading " Additional Explanation of Fees and Costs " , if it has not been included in another part of the periodic statement:
(a) details of incidental fees, such as cheque dishonour fees, that were incurred by the product holder during the period;
(b) details of any service fees that may have been incurred by the product holder;
(c) for a collective investment product that is subject to tax - whether the benefit of any tax deduction has been passed on to the investor in the form of a reduced fee or cost.
Cl 303(2) amended by FRLI No F2018L01144, Sch 1 [ 119] (effective 18 September 2018).
Cl 303 substituted by SLI 2013 No 155, Sch 1[68].
Sch 10 substituted by SLI 31 of 2005, Sch 1 [ 10].
CCH Note - modifying legislative instruments: Schedule 10 is modified by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (Disclosure of Fees and Costs) Instrument 2019/1070.
For other modifying legislative instruments or class orders, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
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