CORPORATIONS REGULATIONS 2001 - REG 7.9.75D Periodic statements--disclosure of amounts

CORPORATIONS REGULATIONS 2001 - REG 7.9.75D

  (1)   For paragraph   1017D(5A)(b) of the Act, this regulation applies to a periodic statement prepared on or after 1   January 2005 in relation to an amount mentioned in paragraph   7.9.75(1)(a) or (b) of these Regulations.

  (2)   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 amount of the deduction in dollars:

  (a)   would impose an unreasonable burden on a product issuer, or a class of product issuers; or

  (b)   would impose an unreasonable burden on a product issuer, or a class of product issuers, within a period specified in the determination; or

  (c)   would not be in the interests of a product holder, or a class of product holders;

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).

  (3)   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 amount of a deduction in dollars, or to describe the amount as a percentage:

  (a)   would impose an unreasonable burden on a product issuer, or a class of product issuers; or

  (b)   would impose an unreasonable burden on a product issuer, or a class of product issuers, within a period specified in the determination; or

  (c)   would not be in the interests of a product holder, or a class of product holders;

the periodic statement must include the information in subregulation   (4).

  (4)   If subregulation   (3) applies, the periodic statement must include:

  (a)   a statement informing the product holder that the amount is applicable; and

  (b)   details of the means by which a product holder is able to gain access to information relating to the amount.

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

  (a)   in writing; and

  (b)   published in the Gazette .