Financial Sector Reform (Hayne Royal Commission Response No. 2) Act 2021 (19 of 2021)
Schedule 1 Ongoing fee arrangements
Part 2 Consequential amendments
Corporations Act 2001
31 Subsection 1317E(3) (table item dealing with subsection 962S(1))
Repeal the item, substitute:
|
subsection 962R(4) |
fee recipient must obtain consent to deduct ongoing fees from an account |
uncategorised |
|
subsection 962S(5) |
fee recipient must obtain consent to arrange for deductions of ongoing fees from an account |
uncategorised |
|
subsection 962S(8) |
fee recipient must not accept payment of ongoing fees resulting from a deduction from an account without consent |
uncategorised |
|
subsection 962U(3) |
fee recipient to confirm receipt of variation or withdrawal of consent for deductions of ongoing fees |
uncategorised |
|
subsection 962V(3) |
fee recipient to give written notice of cessation of consent to account provider |
uncategorised |