Corporations Act 2001
A consent given in relation to an ongoing fee arrangement for the purposes of this Subdivision ceases to have effect: (a) unless paragraph (b) or (c) applies - at the end of the period of 150 days after the anniversary day for the ongoing fee arrangement; or (b) if the ongoing fee arrangement is terminated - at the time the ongoing fee arrangement terminates; or (c) if a new consent is given in relation to the ongoing fee arrangement for the purposes of this Subdivision - at the time that new consent is given. 962V(2)
If: (a) a consent given in relation to an ongoing fee arrangement for the purposes of this Subdivision ceases to have effect under subsection (1) ; and (b) a fee recipient gave a copy of the consent to an account provider under paragraph 962S(3)(c) ;
the fee recipient must give written notice of the cessation to the account provider within 10 business days of the cessation.962V(3)
A person contravenes this subsection if the person contravenes subsection (2) .
Note: This subsection is a civil penalty provision (see section 1317E ).
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