ASIC Corporations (Amendment) Instrument 2020/853
I, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.
Grant Moodie
ASIC Corporations (Amendment) Instrument 2020/853
I, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.
Grant Moodie
Contents
1 Name of legislative instrument
ASIC Corporations (Disclosure of Fees and Costs) Instrument 2019/1070
1 Name of legislative instrument
This is the ASIC Corporations (Amendment) Instrument 2020/853.
This instrument commences on the day after it is registered on the Federal Register of Legislation.
Note: The register may be accessed at www.legislation.gov.au.
This instrument is made under subsection 1020F(1) of the Corporations Act 2001.
Each instrument that is specified in the Schedule to this instrument is amended as set out in the applicable items in the Schedule.
ASIC Corporations (Disclosure of Fees and Costs) Instrument 2019/1070
1 Section 5 (notional clause 218 of Schedule 10)
After subclause (2), insert:
(2A) If the total amount of administration fees and costs includes an amount that applies regardless of the balance, the amounts must be disclosed in the table in clause 211 as follows:
Administration fees and costs | [ ] | For every $50,000 you have in the superannuation product, you will be charged or have deducted from your investment $[ ] in administration fees and costs, plus $[ ] regardless of your balance |