Corporations Act 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
Where:
(a) a financial services licensee enters into an ongoing fee arrangement; and
(b) the rights of the licensee under the arrangement have not been assigned to another person;
Where:
(a) a representative of a financial services licensee enters into an ongoing fee arrangement; and
(b) the rights of the representative under the arrangement have not been assigned to another person;
Where the rights of a financial services licensee, or a representative of a financial services licensee, under an ongoing fee arrangement have been assigned to another person, the person who currently holds those rights is the fee recipient in relation to the arrangement.
PART 7.7A
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BEST INTERESTS OBLIGATIONS AND REMUNERATION
Division 3
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Charging ongoing fees to clients
Subdivision A
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Preliminary
SECTION 962C
FEE RECIPIENTS
962C(1)
Where:
(a) a financial services licensee enters into an ongoing fee arrangement; and
(b) the rights of the licensee under the arrangement have not been assigned to another person;
the licensee is the fee recipient in relation to the arrangement.
962C(2)Where:
(a) a representative of a financial services licensee enters into an ongoing fee arrangement; and
(b) the rights of the representative under the arrangement have not been assigned to another person;
the representative is the fee recipient in relation to the arrangement.
962C(3)Where the rights of a financial services licensee, or a representative of a financial services licensee, under an ongoing fee arrangement have been assigned to another person, the person who currently holds those rights is the fee recipient in relation to the arrangement.
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