Commonwealth Consolidated Regulations

[Index] [Table] [Search] [Search this Regulation] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

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 .



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback