Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.9 - FINANCIAL PRODUCT DISCLOSURE AND OTHER PROVISIONS RELATING TO ISSUE AND SALE OF FINANCIAL PRODUCTS  

Division 5 - Ongoing requirements for product disclosure after person becomes a member  

Subdivision 5.2 - Periodic statements for retail clients for financial products that have an investment component: regulated superannuation funds, approved deposit funds and RSAs  

REGULATION 7.9.19A   WITHDRAWAL BENEFIT - FEES, CHARGES OR EXPENSES  

7.9.19A(1)   [ Amount to be stated in dollars]  

For subsection 1017D(5A) of the Act, in providing details of a deduction for fees, charges or expenses in accordance with paragraph 7.9.19 (g), the amount must be stated in dollars.

7.9.19A(2)   [ Where not possible to state amount in dollars]  

If ASIC determines that, for a compelling reason, it is not possible to state the amount of a deduction in dollars the amount of the deduction may be set out as a description of the fees, charges or expenses as a percentage of a specified matter (including worked dollar examples, unless that is inappropriate).

7.9.19A(3)   [ Statement of fees and charges]  

If ASIC determines that, for a compelling reason, it is not possible to state the amount of a deduction in dollars, or to set out the amount as a percentage, the product issuer may provide:

(a) a statement informing the holder of the product that amounts for fees, charges or expenses are applicable; and

(b) if information about access to the information about the amount of the deduction is not provided in the statement mentioned in paragraph 7.9.19 (h) - details of the means by which a product holder can gain access to information relating to the amount of the deduction.

7.9.19A(4)   [ Publication]  

A determination under subregulation (2) or (3) must be:

(a) in writing; and

(b) published in the Gazette .