Document ID: chunk:federal_register_of_legislation:C2025C00185:section:962g
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 962G
Character Range: 4024997–4026880

962G  Requirements for consent
 (1) A written consent given in relation to an ongoing fee arrangement complies with the requirements in this section if:
 (a) before obtaining the consent, the fee recipient disclosed to the client, in writing, the matters set out in subsection (2); and
 (b) the consent is for:
 (i) the ongoing fee arrangement to be entered into, or renewed (as the case requires); and
 (ii) the ongoing fees disclosed as required under paragraph (2)(e) to be charged to the client; and
 (c) the consent is signed by the client; and
 (d) the consent is dated; and
 (e) the fee recipient has the consent or a copy of the consent.
 (2) The matters that must be disclosed are as follows:
 (a) the name and contact details of the person who is the fee recipient under the ongoing fee arrangement;
 (b) an explanation of why the fee recipient is seeking the consent;
 (c) the maximum period until the consent will cease to have effect under section 962H;
 (d) information about the services that the client will be entitled to receive under the arrangement during that period;
 (e) for each ongoing fee that the client will be required to pay under the arrangement during that period:
 (i) the amount of the fee; or
 (ii) if the amount of the fee cannot be determined at the time of disclosure, a reasonable estimate of the amount of the ongoing fee and an explanation of the method used to work out the estimate;
 (f) the frequency of the ongoing fees during that period;
 (g) a statement that the ongoing fee arrangement can be terminated by the client at any time;
 (h) a statement that the arrangement will terminate, and no further advice will be provided or fee charged under it, if the consent is not given;
 (i) the date on which the arrangement will terminate if the consent is not given;
 (j) information about any other matters prescribed by the regulations.