Document ID: chunk:federal_register_of_legislation:F2021C00160:body:0:p34
Version: federal_register_of_legislation:F2021C00160
Segment Type: other
Provision Reference: 
Character Range: 92801–95979

fees and costs", if it has not been included in another part of the periodic statement:

                (a) details of incidental fees, such as cheque dishonour fees, that were incurred by the product holder during the period;

                (b) details of any service fees that may have been incurred by the product holder; and

                (c) for a collective investment product that is subject to tax—whether the benefit of any tax deduction has been passed on to the investor in the form of a reduced fee or cost.

Part 3—Consequential declarations

6 Consequential declarations
(1) Part 7.9 of the Act applies in relation to collective investment products and superannuation products as if that Part were modified or varied as follows:
            (a) in section 1011B, insert in the following definition in the appropriate alphabetical order:
            "investment option, in relation to a managed investment scheme or superannuation entity, includes the managed investment scheme or superannuation entity where there is no choice of investment options within the managed investment scheme or superannuation entity.";
            (b) in subsection 1013C(2), omit "The", substitute "Unless otherwise provided in the regulations, the";
            (c) in paragraph 1017B(6)(a), omit "event", substitute "change or event".
(2) Part 7.9 of the Regulations applies in relation to collective investment products and superannuation products as if that Part were modified or varied as follows:
            (a) omit subparagraph 7.9.15DA(4)(c)(iv), substitute:
                   "(iv)  Divisions 5, 6 and 6A of Part 2 of Schedule 10;"
            (b) after subparagraph 7.9.16J(a)(iv) insert:
                   "(v) pensions provided under the rules of a superannuation fund that meet the standards of subregulations 1.06(2), 1.06(6) or 1.06(7) of the SIS Regulations; and"
            (c) omit paragraphs 7.9.16N(2)(a) and (b), substitute:
                   "(a) the Fees and Costs Summary and Additional Explanation of Fees and Costs set out in Part 2 of Schedule 10; and
                   (b) an Example of Annual Fees and Costs and associated notes, and Cost of Product Information, as set out in Part 2 of Schedule 10; and";
            (d) in regulation 7.9.16T, omit the notional paragraph 1015D(2)(b) of the Act and the note, substitute:
                "(b) a change is made to the fees and charges set out in the Fees and Costs Summary in the Statement;
                   Note: The Fees and Costs Summary is set out in clauses 201, 202 and 202A of Schedule 10 to the Corporations Regulations 2001.";
            (e) in subregulation 7.9.60B(6) omit "fees and costs template", substitute "Fees and Costs Summary"
            (f) in subregulation 7.9.60B(7) omit "template.", substitute "Fees and Costs Summary."
            (g) omit paragraph 7.9.75(1)(b);
            (h) omit the Note in subclause 8(1) of Schedule 10D, substitute:
               Note: The statement will be made using the Fees and Costs Summary in accordance with subclause (3).
            (i) omit subclause 8(3) of Schedule 10D, substitute:

               (3) Section 6 must set out