CORPORATIONS REGULATIONS 2001 - REG 7.9.19A Withdrawal benefit--fees, charges or expenses

CORPORATIONS REGULATIONS 2001 - REG 7.9.19A

  (1)   For subsection   1017D(5A) of the Act, in providing details of a deduction for fees, charges or expenses in accordance with paragraph   7.9.19(g), the amount must be stated in dollars.

  (2)   If ASIC determines that, for a compelling reason, it is not possible to state the amount of a deduction in dollars the amount of the deduction may be set out as a description of the fees, charges or expenses as a percentage of a specified matter (including worked dollar examples, unless that is inappropriate).

  (3)   If ASIC determines that, for a compelling reason, it is not possible to state the amount of a deduction in dollars, or to set out the amount as a percentage, the product issuer may provide:

  (a)   a statement informing the holder of the product that amounts for fees, charges or expenses are applicable; and

  (b)   if information about access to the information about the amount of the deduction is not provided in the statement mentioned in paragraph   7.9.19(h)--details of the means by which a product holder can gain access to information relating to the amount of the deduction.

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

  (a)   in writing; and

  (b)   published in the Gazette .