Document ID: chunk:federal_register_of_legislation:F2015L00817:body:0:p6
Version: federal_register_of_legislation:F2015L00817
Segment Type: other
Provision Reference: 
Character Range: 14386–17129

charged to a member to recover the costs of disposing of all or part of members' interests in a fund. Reference: SIS Act, s. 29V(6).

Insurance fee                 Represents a fee charged to a member that relates directly to insurance premiums paid by the RSE licensee in relation to a member or members. Excludes: insurance contracts where the benefit to the member is based on the performance of an investment rather than the realisation of a risk. Reference: SIS Act, s. 29V(9).

Investment fee                Represents a fee charged to a member, gross of tax obligations, that relates to the investment of the assets of the entity. Reference: SIS Act, s. 29V(3).

Switching fee                 Represents a fee charged to a member to recover costs of switching all or part of members' interests within the fund. Reference: SIS Act, s. 29V(5).

Fee paid by member            Represents where the fee charged to the member has been paid directly either as a deduction from the member's account, member's contributions or from the investment return before crediting the member's account balance.

Fee paid by employer sponsor  Represents where the employer-sponsor, within the meaning given in s.16(1) of the SIS Act, pays the fee. Include: fees paid by way of an employer contribution that has not been allocated to member accounts, and, fees paid directly by an employer to a service provider without passing through the RSE.

Fee paid by reserve           Represents where the fee is paid from a reserve with the RSE.

Fee paid by RSE licensee  Represents where the RSE licensee pays the fee, either as a payment into the RSE by the RSE licensee or directly by the RSE licensee to a service provider without passing through the RSE.

Fee rebate                Represents a rebate received against fees charged to members.

Fees rebates and fee discounts

Item 2 collects information about any fee rebates or fee discounts for each type of fee charged, excluding activity fees.

Item 2          Report each fee, excluding activity fees, to which a fee rebate or fee discount applies as a separate line in item 2. Activity fees must be reported in item 4. If there were no fee rebates or fee discounts for any fee type, leave item 2 blank.

                Report aggregate fee rebates and aggregate fee discounts for each fee on separate lines.

                Report the fee type in column 1, a description of the fee rebate or fee discount in column 2, the number of member accounts which received the fee rebate or fee discount in column 3 and the aggregate value of the fee rebate or fee discount applied to the member accounts in column 3, in column 4.

                The fee types are: administration fee, advice fee, exit