(1) Instead of a capital commission and income commission under section 601TDC, the trustee company may charge an annual management fee (GST inclusive) at a rate not exceeding 1.056% of the gross value of the charitable trust's assets.
(2) The regulations may make provision relating to the management fee, including (but not limited to):
(a) the calculation of the management fee or of the gross value of the charitable trust's assets; and
(b) when, during a year, the management fee may be charged; and
(c) apportionment of the amount of the management fee for part-years.