Document ID: chunk:federal_register_of_legislation:F2025C00069:reg:3:p65
Version: federal_register_of_legislation:F2025C00069
Segment Type: reg
Provision Reference: reg 3 (pt 65/71)
Character Range: 555303–558007

product that are referable to a lifestage of the Part 6A product.
 (2) For the purposes of subregulation (1), if the previous quarter is before the Part 6A product's initial quarter, treat the references in subregulation (1) to the previous quarter as being references to the initial quarter.

9AB.4A  Meaning of representative administration fees and expenses or RAFE
 (1) Representative administration fees and expenses or RAFE, for a Part 6A product in relation to a period, means the sum of the following:
 (a) the Part 6A product's administration fees and costs, and related tax expenses and benefits, in relation to the period under the Part 6A product's standard fees and costs arrangement in relation to the period as reported to APRA in accordance with the applicable investment performance standard and applicable RSE structure standard;
 (b) the Part 6A product's advice fees and costs, and related tax expenses and benefits, in relation to the period under that standard fees and costs arrangement.
 (2) In working out an amount for the purposes of paragraph (1)(a) or (b), assume that the amount related to a beneficiary of the entity offering the Part 6A product with an account balance in respect of the Part 6A product throughout the period of:
 (a) if paragraph (b) does not apply—$50,000;
 (b) if there is a minimum balance requirement to access the Part 6A product that is greater than $50,000—that minimum balance.

Lifecycle Part 6A products
 (3) Subregulations (4) to (6) apply if the Part 6A product is a lifecycle Part 6A product.
 (4) Despite subregulation (1), work out the representative administration fees and expenses or RAFE for the Part 6A product in relation to a period as follows:
 (a) first, work out each RAFE for the Part 6A product in relation to the period, in accordance with subregulation (1), on the assumptions that:
 (i) subregulation (1) applies separately in respect of each lifestage of the Part 6A product; and
 (ii) in applying subregulation (1) to a lifestage, references in that subregulation to amounts reported to APRA were references to such amounts to the extent that they relate to that lifestage;
 (b) next, identify the largest of the RAFEs worked out under paragraph (a).
 (5) Subregulation (6) applies if:
 (a) the lifecycle Part 6A product has particular lifestages at the start of a financial year; and
 (b) at one or more times during the year, the product starts to have different lifestages.
 (6) Despite subregulations (1) and (4), work out the RAFE for the Part 6A product in relation to the year as follows:
 (a) first, divide the year into periods on the following basis:
 (i) the first period starts at the start of the year;
 (ii) a