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CORPORATIONS REGULATIONS 2001 - REG 7.7.13 Statement of Advice provided by authorised representative--disclosure of dollar amounts

CORPORATIONS REGULATIONS 2001 - REG 7.7.13

Statement of Advice provided by authorised representative--disclosure of dollar amounts

  (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 .

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