CORPORATIONS ACT 2001 - SECT 962G Annual requirement to give fee disclosure statement

CORPORATIONS ACT 2001 - SECT 962G

  (1)   The current fee recipient in relation to an ongoing fee arrangement must, no later than 60 days after the anniversary day for the arrangement in each year, give the client a fee disclosure statement for the arrangement and the anniversary day.

  (2)   The regulations may provide that subsection   (1) does not apply in a particular situation.

Meaning of anniversary day

  (3)   Anniversary day , for an ongoing fee arrangement, means the anniversary of the day on which the arrangement was entered into.

Note:   Section   1673C provides a modified meaning of anniversary day in relation to ongoing fee arrangements in force before 1   July 2021.

Civil penalty

  (4)   A person contravenes this subsection if the person contravenes subsection   (1).

Note:   This subsection is a civil penalty provision (see section   1317E).