Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 962C

Fee recipients

             (1)  Where:

                     (a)  a financial services licensee enters into an ongoing fee arrangement; and

                     (b)  the rights of the licensee under the arrangement have not been assigned to another person;

the licensee is the fee recipient in relation to the arrangement.

             (2)  Where:

                     (a)  a representative of a financial services licensee enters into an ongoing fee arrangement; and

                     (b)  the rights of the representative under the arrangement have not been assigned to another person;

the representative is the fee recipient in relation to the arrangement.

             (3)  Where the rights of a financial services licensee, or a representative of a financial services licensee, under an ongoing fee arrangement have been assigned to another person, the person who currently holds those rights is the fee recipient in relation to the arrangement.



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