Commonwealth Consolidated Regulations

CORPORATIONS REGULATIONS 2001 - REG 7.7.13

         (1)   For paragraph 947C (2) (i) of the Act, if ASIC determines that, for a compelling reason based on the nature of a financial product or service, or the nature of the information, to state the information as an amount in dollars:

                (a)    would impose an unreasonable burden on a providing entity, or a class of providing entities; or

               (b)    would impose an unreasonable burden on a providing entity, or a class of providing entities, within a period specified in the determination; or

                (c)    would not be in the interests of a client, or a class of clients;

the information may be set out as a description of the amount as a percentage of a specified matter (including worked dollar examples, unless that is inappropriate).

         (2)   For paragraph 947C (2) (i) of the Act, if ASIC determines that, for a compelling reason, based on the nature of a financial product or service, or the nature of the information, to state the information as an amount in dollars, or to describe the amount as a percentage:

                (a)    would impose an unreasonable burden on a providing entity, or a class of providing entities; or

               (b)    would impose an unreasonable burden on a providing entity, or a class of providing entities, within a period specified in the determination; or

                (c)    would not be in the interests of a client, or a class of clients;

the information may be set out as a description of the method of calculating the remuneration, benefits or interests (including worked dollar examples, unless that is inappropriate).

         (3)   A determination under subregulation (1) or (2) must be:

                (a)    in writing; and

               (b)    published in the Gazette .