Document ID: chunk:federal_register_of_legislation:F2021C00160:body:0:p23
Version: federal_register_of_legislation:F2021C00160
Segment Type: other
Provision Reference: 
Character Range: 61664–64711

or operator of a notified foreign passport fund as defined in paragraph (a) or (b) (as relevant) of the definition of buy-sell spread in clause 101;

            (k) the following information about fee changes:

                 (i) if applicable, a statement about the issuer's right to change the amount of fees without the investor's consent;

                 (ii) any indexation arrangements that apply;

                 (iii) the period of advance notice required for fee changes;

                 (iv) any change in fee structure that is dependent on a person's employment;

            (l) if the issuer has instituted a flexible charging structure, for each applicable fee, if known:

                (i) any maximum, and when it would apply; and

                (ii) any waiver, and when it would not apply.

    Division 4A—Defined fees for superannuation products

    209A Defined fees for superannuation products

        The following definitions must be included for a superannuation product under the heading "Defined fees", or incorporated by reference:

        Activity fees

        A fee is an activity fee if:

            (a) the fee relates to costs incurred by the trustee [OR the trustees] of the superannuation entity that are directly related to an activity of the trustee [OR the trustees]:

                 (i) that is engaged in at the request, or with the consent, of a member; or

                 (ii) that relates to a member and is required by law; and

            (b) those costs are not otherwise charged as administration fees and costs, investment fees and costs, transaction costs, a buy‑sell spread, a switching fee, an advice fee or an insurance fee.

        Administration fees and costs

        Administration fees and costs are fees and costs that relate to the administration or operation of the superannuation entity and includes costs incurred by the trustee [OR the trustees] of the entity that:

            (a) relate to the administration or operation of the entity; and

            (b) are not otherwise charged as investment fees and costs, a buy-sell spread, a switching fee, an activity fee, an advice fee or an insurance fee.

        Advice fees

        A fee is an advice fee if:

            (a) the fee relates directly to costs incurred by the trustee [OR the trustees] of the superannuation entity because of the provision of financial product advice to a member by:
                (i) a trustee of the entity; or
                (ii) another person acting as an employee of, or under an arrangement with, the trustee [OR the trustees] of the entity; and

            (b) those costs are not otherwise charged as administration fees and costs, investment fees and costs, a switching fee, an activity fee or an insurance fee.

        Buy‑sell spreads

        A buy‑sell spread is a fee to recover costs incurred by the trustee [OR the trustees] of the superannuation entity in relation to the sale and purchase of assets of the entity.

        Exit fees

        An exit