Document ID: chunk:federal_register_of_legislation:C2012A00067:clause:1_962c
Version: federal_register_of_legislation:C2012A00067
Segment Type: clause
Provision Reference: sch 1 cl 962C
Character Range: 8975–9813

962C  Fee recipients
 (1) Where:
 (a) a financial services licensee enters into an ongoing fee arrangement; and
 (b) the rights of the licensee under the arrangement have not been assigned to another person;
the licensee is the fee recipient in relation to the arrangement.
 (2) Where:
 (a) a representative of a financial services licensee enters into an ongoing fee arrangement; and
 (b) the rights of the representative under the arrangement have not been assigned to another person;
the representative is the fee recipient in relation to the arrangement.
 (3) Where the rights of a financial services licensee, or a representative of a financial services licensee, under an ongoing fee arrangement have been assigned to another person, the person who currently holds those rights is the fee recipient in relation to the arrangement.