Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.7A - BEST INTERESTS OBLIGATIONS AND REMUNERATION  

Division 3 - Charging ongoing fees to clients  

Subdivision B - 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 ).