Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p22
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 22/43)
Character Range: 1320343–1323041

manner.

7.9.20A  Details of other significant benefits—disclosure of fees, charges or expenses
 (1) For subsection 1017D(5A) of the Act, in providing details of a deduction for fees, charges or expenses in accordance with paragraph 7.9.20(1)(kb):
 (a) the amount must be stated in dollars; or
 (b) if ASIC determines that, for a compelling reason, it is not possible to state the amount of a deduction in dollars the amount of the deduction may be set out as a description of the fees, charges or expenses as a percentage of a specified matter (including worked dollar examples, unless that is inappropriate); or
 (c) if ASIC determines that, for a compelling reason, it is not possible to state the amount of a deduction in dollars, or to set out the amount as a percentage, the product issuer may provide:
 (i) a statement informing the holder of the product that amounts for fees, charges or expenses are applicable; and
 (ii) 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.
 (2) A determination under paragraph (1)(b) or (c) must be:
 (a) in writing; and
 (b) published in the Gazette.

7.9.20B  Other significant benefits—disclosure of fees, charges or expenses
 (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