Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.9.75D

Periodic statements--disclosure of amounts

             (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 .



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