Document ID: chunk:federal_register_of_legislation:F2015L00830:body:0:p15
Version: federal_register_of_legislation:F2015L00830
Segment Type: other
Provision Reference: 
Character Range: 43047–45798

each fee, excluding activity fees, as a separate line in item 8. Activity fees must be reported in item 10. Where a fee has been paid via one or more sources, report a separate line for each source of payment for that fee.

                              Report the fee type in item 8 column 1, the source of payment in item 8 column 2 and the value of fees paid, gross of any fee rebate, in item 8 column 3.

                              Where the source of payment is not listed in item 8 column 2 report the fee in item 8.1. Report  the fee type in column 1, a description of the source of payment in column 2 and the value of fees paid column 3; otherwise leave item 8.1 blank.

                              The fee types are: administration fee, advice fee, exit fee, insurance fee, investment fee, switching fee and 'other fee'.

                              The sources of payment are: fee paid by member, fee paid by employer-sponsor, fee paid by reserve and fee paid by RSE licensee.

Activity fee                  Represents a fee charged to a member that relates to an activity of an RSE licensee that is engaged in at the request, or with the consent, or a member or that relates to a member and is required by law.

Administration fee            Represents a fee charged to a member that relates to the administration or operation of the fund.

Advice fee                    Represents a fee charged to a member that relates to the provision of financial product advice to a member by the RSE licensee.

Exit fee                      Represents a fee charged to a member to recover the costs of disposing of all or part of members' interests in a fund.

Insurance fee                 Represents a fee charged to a member that relates directly to insurance premiums paid by the RSE licensee in relation to a member or members. Excludes: insurance contracts where the benefit to the member is based on the performance of an investment rather than the realisation of a risk.

Investment fee                Represents a fee charged to a member that relates to the investment of the assets of the entity.

Switching fee                 Represents a fee charged to a member to recover costs of switching all or part of members' interests within the fund.

Fee paid by member            Represents where the fee charged to the member has been paid directly either as a deduction from the member's account, member's contributions or from the investment return before crediting the member's account balance.

Fee paid by employer sponsor  Represents where the employer-sponsor, within the meaning given in s.16(1) of the SIS Act, pays the fee. Include: fees paid by way of an employer contribution that has not been allocated to member accounts,