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 A - Preliminary  

SECTION 962C   FEE RECIPIENTS  

962C(1)  
Where:


(a) a financial services licensee enters into an ongoing fee arrangement; and


(b) the rights of the licensee under the arrangement have not been assigned to another person;

the licensee is the fee recipient in relation to the arrangement.

962C(2)  
Where:


(a) a representative of a financial services licensee enters into an ongoing fee arrangement; and


(b) the rights of the representative under the arrangement have not been assigned to another person;

the representative is the fee recipient in relation to the arrangement.

962C(3)  
Where the rights of a financial services licensee, or a representative of a financial services licensee, under an ongoing fee arrangement have been assigned to another person, the person who currently holds those rights is the fee recipient in relation to the arrangement.


 

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