Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) For subsection 1017D(5A) of the Act, this regulation applies to details of a deduction for fees, charges or expenses mentioned in paragraph 7.9.20(1)(kb).
(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 product issuer must provide the information in subregulation (4).
(4) If subregulation (3) applies, the product issuer must provide:
(a) a statement informing the product holder that amounts for fees, charges or expenses are applicable; and
(b) if information about the deduction is not provided in the statement mentioned in sub - subparagraph 7.9.20(1)(ka)(ii)(B)--details of the means by which a product holder can gain access to information relating to the amount of the deduction.
(5) A determination under subregulation (2) or (3) must be:
(a) in writing; and
(b) published in the Gazette .