Corporations Act 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
The current fee recipient in relation to an ongoing fee arrangement must, no later than 60 days after the anniversary day for the arrangement in each year, give the client a fee disclosure statement for the arrangement and the anniversary day.
The regulations may provide that subsection (1) does not apply in a particular situation. Meaning of anniversary day 962G(3)
Anniversary day , for an ongoing fee arrangement, means the anniversary of the day on which the arrangement was entered into.
A person contravenes this subsection if the person contravenes subsection (1) .
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
PART 7.7A
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BEST INTERESTS OBLIGATIONS AND REMUNERATION
Division 3
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Charging ongoing fees to clients
Subdivision B
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Termination, disclosure and renewal
SECTION 962G
ANNUAL REQUIREMENT TO GIVE FEE DISCLOSURE STATEMENT
962G(1)
The current fee recipient in relation to an ongoing fee arrangement must, no later than 60 days after the anniversary day for the arrangement in each year, give the client a fee disclosure statement for the arrangement and the anniversary day.
962G(2)
The regulations may provide that subsection (1) does not apply in a particular situation. Meaning of anniversary day 962G(3)
Anniversary day , for an ongoing fee arrangement, means the anniversary of the day on which the arrangement was entered into.
Note: Section 1673C provides a modified meaning of anniversary day in relation to ongoing fee arrangements in force before 1 July 2021.
Civil penalty
962G(4)
A person contravenes this subsection if the person contravenes subsection (1) .
Note: This subsection is a civil penalty provision (see section 1317E ).
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