Document ID: chunk:federal_register_of_legislation:F2015L01835:schedule:1:p8
Version: federal_register_of_legislation:F2015L01835
Segment Type: schedule
Provision Reference: sch 1 (pt 8/11)
Character Range: 20500–23423

current financial year and if the product or investment option was first offered in the current financial year, since the time the product or investment option was first offered, adjusted to reflect a 12 month period.";
    14 After subparagraph 6(e)
    Insert:
(ea) after clause 209 insert:
"209AA Calculating transactional and operational costs
For subclause 209(j), information about transactional and operational costs for a product or  investment option disclosed in a Product Disclosure Statement that is available during a particular financial year is to be determined for the previous financial year except that if product or investment option was not offered from at least 11 months before the end of the previous financial year, the transactional and operational costs are to be determined based on the responsible person's reasonable estimate at the time the Statement is prepared of those costs that will apply for the current financial year, and if the product or investment option was first offered in the current financial year, since the time the product or investment option was first offered, adjusted to reflect a 12 month period.";
    15 After sub-subparagraph 6(f)(i)
Insert:
            (ia) omit the definition of administration fee, substitute:
           "An administration fee is a fee that relates to the administration or operation of the superannuation entity and includes costs, other than indirect costs that are not paid out of the superannuation entity that the trustee has elected in writing will be treated as indirect costs and not fees, incurred by the trustee [OR the trustees] of the entity or in an interposed vehicle or derivative financial product that:
              (a) relate to the administration or operation of the entity; and
              (b) are not otherwise charged as an investment fee, a buy-sell spread, a switching fee, an exit fee, an activity fee, an advice fee or an insurance fee.";
           (ib) omit the definition of investment fee, substitute:
           "An investment fee is a fee that relates to the investment of the assets of a superannuation entity and includes:
              (a) fees in payment for the exercise of care and expertise in the investment of those assets (including performance fees); and
              (b) costs, other than indirect costs that are not paid out of the superannuation entity that the trustee has elected in writing will be treated as indirect costs and not fees, incurred by the trustee [OR the trustees] of the entity or in an interposed vehicle or derivative financial product that:
                  (i) relate to the investment of assets of the entity; and
                  (ii) are not otherwise charged as an administration fee, a buy-sell spread, a switching fee, an exit fee, an activity fee, an advice fee or an insurance fee.";
    16 After subparagraph 6(f)
Insert:
(fa) in subclause 211:

           (i)