Corporations Regulations 2001
View history note
Hide history note[ CCH Note: Pursuant to the Corporations Amendment Regulations 2001 (No 4) (SR 2001 No 319) effective 11 March 2002, Chapter 7 (Securities) comprising reg 7.1.01 - 7.15.01 and Chapter 8 (The futures industry) comprising reg 8.1.01 - 8.7.03 are replaced by a new Chapter 7 (Financial services and markets) comprising reg 7.1.01 - 7.12.01. As the subject matter of the new Chapter 7 relates to the new financial services reform regime, " inserted " has been used in the history notes for each provision, and all references to the former provisions have been removed.]
Note: Regulations 7.7A.01 to 7.7A.04 are reserved for future use.
This regulation is made for subsection 962A(5) of the Act.
7.7A.10(2)
An arrangement of a kind mentioned in subsection 962A(1) or (2) of the Act is not an ongoing fee arrangement to the extent that the arrangement relates to a product fee mentioned in subregulation (3).
7.7A.10(3)
Each of the following is a product fee:
(a) a fee for the administration, management or operation of a financial product that is charged to a retail client to which the product is issued by the issuer of the product;
Example 1:
A monthly account keeping fee charged by the provider of a basic deposit product.
Example 2:
A monthly administration or investment fee charged by a trustee of a superannuation fund or a responsible entity of a registered scheme.
(b) a fee that:
(i) is a cost of providing financial product advice; and
(ii) under section 99F of the Superannuation Industry (Supervision) Act 1993 , is not prohibited or prevented from being passed on to a member of a regulated superannuation fund.
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