Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.7 - FINANCIAL SERVICE DISCLOSURE  

Division 2 - Financial Services Guide  

REGULATION 7.7.07A   FINANCIAL SERVICES GUIDE GIVEN BY AUTHORISED REPRESENTATIVE: MORE DETAILED INFORMATION ABOUT REMUNERATION ETC  

7.7.07A(1)   [ Request for particulars of remuneration or other benefits]  

For subsection 942C(7) of the Act, if:

(a) the remuneration (including commission) or other benefits that a person mentioned in paragraph 942C(2)(f) or person 1 in subregulation 7.7.07(1) has received, or is to receive, are not able to be ascertained at the time the Financial Services Guide is given to the client; and

(b) the providing entity reasonably believes that personal advice will not be given to the client; and

(c) the Financial Services Guide does not contain particulars of the remuneration (including commission) or other benefits;

the client may request, from the authorised representative, particulars of the remuneration (including commission) or other benefits.

7.7.07A(2)   [ Time limit]  

A request under subregulation (1) must be made within a reasonable time after the client is given the Financial Services Guide and before any financial service identified in the Guide is provided to the client.

7.7.07A(3)   [ Content of particulars]  

For subregulation (1), the particulars must, to the extent relevant, include a statement of the range of amounts or rates of remuneration (including commission) or other benefits.

Examples

1. Remuneration is paid within the range of $X to $Y.

2. Commission is paid at rates between X% and Y%.

7.7.07A(4)   [ Presentation of particulars]  

The particulars mentioned in subregulation (3) must be presented in a manner that is easy for the client to understand.