Document ID: chunk:federal_register_of_legislation:F2021C00174:reg:3:p13
Version: federal_register_of_legislation:F2021C00174
Segment Type: reg
Provision Reference: reg 3 (pt 13/29)
Character Range: 81571–84703

references to floating periods.

                      Example 2: If a points-based program does not offer different membership options, remove the reference to different membership options.

                      Example 3: If a financing arrangement is not offered, the preamble should be modified by removing references to financing.

           205 Presentation of amounts

                  (1) This clause and clauses 206, 207, 208, 210, 212, 214, 216, 218, 221, 223, 224, 225, 226, 227, and 229 are subject to regulations 7.9.15A, 7.9.15B and 7.9.15C.

                  (2) If a particular fee or cost is not charged, "nil", "zero", "0" or "not applicable" (if it would not be misleading) must be written in the relevant column opposite the type of fee or cost.

                  (3) If it is not possible to determine a single amount or percentage of a fee or cost, it may be written as a range of fees or costs.

                  (4) If the exact amount of a fee or cost paid or payable is not known, an amount that is a reasonable estimate of the amount attributable to the retail client must be shown.

                  (5) Any estimate used must be clearly designated as an estimate.

                  (6) If an amount or cost has a number of components, the amount of each component must be listed separately, except the Cost of Product Information amount, which must be listed as a single amount.

                  Example: Levies: 1.8% of the value of members points + $70 per year.

                  (7) A cost or amount paid or payable must include (as applicable) gross of:

                     (a) income tax and GST, after being reduced by any reduced input tax credits;

                     (b) stamp duty; and

                     (c) without adjustment in relation to:

                         (i) any tax deduction available to the responsible entity; or

                         (ii)  the extent to which any tax deduction may be passed on to members.

              206 Allocation points-based programs

                  (1) Column 1 of the template must set out each membership option offered under the Product Disclosure Statement in a separate row.

                  (2) Opposite each membership option described in column 1, column 2 must set out:

                     (a) in column 2 subcolumn 1—the points or range of points required;

                     (b) in column 2 subcolumn 2—the price of each point; and

                     (c) in column 2 subcolumn 3—the total cost of the points inclusive of the establishment fee and any other fees payable in relation to the purchase of points.

                  (3) If there is no financing arrangement offered, column 3 and footnote 2 should be removed.

                  (4) If a financing arrangement is offered, column 3 must set out opposite each membership option described in column 1:

                     (a) in column 3 subcolumn 1—the total amount of any upfront finance costs related to obtaining finance facilitated by the responsible entity including any establishment fee, finance application