Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:4:p4
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 4 (pt 4/49)
Character Range: 991161–993981

determines that, for a compelling reason, based on the nature of a financial product or service, or the nature of the information, to state the information as an amount in dollars, or to describe the amount as a percentage:
 (a) would impose an unreasonable burden on a providing entity, or a class of providing entities; or
 (b) would impose an unreasonable burden on a providing entity, or a class of providing entities, within a period specified in the determination; or
 (c) would not be in the interests of a client, or a class of clients;
the information may be set out as a description of the method of calculating the remuneration, benefits or interests (including worked dollar examples, unless that is inappropriate).
 (3) A determination under subregulation (1) or (2) must be:
 (a) in writing; and
 (b) published in the Gazette.

7.7.12  Statement of Advice given by authorised representative of financial services licensee
 (1) For paragraph 947C(2)(h) of the Act, a Statement of Advice given by an authorised representative of a financial services licensee must include information about all remuneration (including commission) and other benefits that a person (person 1) has received, or is to receive, for referring another person to the authorised representative or the financial services licensee.
 (2) For paragraph 947C(2)(i) of the Act, if ASIC determines that, for a compelling reason, it is not possible to state information to be disclosed in accordance with paragraph 947C(2)(e) or subparagraph 947C(2)(f)(i) as an amount in dollars, the information may be set out as a description of the amount as a percentage of a specified matter (including worked dollar examples, unless that is inappropriate).
 (3) For paragraph 947C(2)(i) of the Act, if ASIC determines that, for a compelling reason, it is not possible to state information to be disclosed in accordance with paragraph 947C(2)(e) or subparagraph 947C(2)(f)(i) as an amount in dollars, or to describe the amount as a percentage, the information may be set out as a description of the method of calculating the remuneration, benefits or interests (including worked dollar examples, unless that is inappropriate).
 (4) A determination under subregulation (1) or (2) must be:
 (a) in writing; and
 (b) published in the Gazette.
 (5) The statements and descriptions must be presented in a manner that is easy for the client to understand.

7.7.13  Statement of Advice provided by authorised representative—disclosure of dollar amounts
 (1) For paragraph 947C(2)(i) of the Act, if ASIC determines that, for a compelling reason based on the nature of a financial product or service, or the nature of the information, to state the information as an amount in dollars:
 (a) would impose an unreasonable burden on a providing entity, or a class of