Document ID: chunk:federal_register_of_legislation:F2022C01176:body:0:p4
Version: federal_register_of_legislation:F2022C01176
Segment Type: other
Provision Reference: 
Character Range: 7746–10484

Characteristics of the member or of their investment
       (2) This instrument applies to a differential fee arrangement in relation to a CCIV under which the fees that may be charged, rebated or waived by the corporate director or the CCIV to members of a sub-fund of the CCIV differ based on any of the following criteria:
(a) the total value of, or the number of, shares held by the member, or by the member and associated persons, in one or more of the following:
               (i) the CCIV (in respect of the sub-fund);
               (ii) other CCIVs operated by the corporate director or a related body corporate of the corporate director;
               (iii) other financial products issued by the corporate director or a related body corporate of the corporate director;
(b) the total period of time during which the member, or the member and associated persons, has held shares in one or more of the following:
               (i) the CCIV (in respect of the sub-fund);
               (ii) other CCIVs operated by the corporate director or a related body corporate of the corporate director;
               (iii) other financial products issued by the corporate director or a related body corporate of the corporate director;
(c) the member being an employee of the corporate director or a related body corporate of the corporate director in circumstances where the number of votes that may be cast on a resolution of the members of the sub-fund of the CCIV by employee members is no more than 5% of the total votes that may be cast by the members of the sub-fund of the CCIV;
(d) the member having acquired their shares under a switching facility that involved the member first withdrawing from:
               (i) another sub-fund of the CCIV; or
               (ii) another CCIV operated by the corporate director or a related body corporate of the corporate director; or
(e) savings to the CCIV resulting, or reasonably expected by the corporate director to result, from the lower cost of servicing a member of the CCIV because of particular characteristics of that member or of their investment, where the amount of the benefit by way of lower fees charged to that member, or the rebate or waiver of fees provided to that member, is no greater than a reasonable estimate of the amount of the saving or expected saving.
Individual negotiation with wholesale clients
       (3) This instrument also applies to a differential fee arrangement in relation to a CCIV under which the fees that may be charged, rebated or waived by the corporate director or a CCIV to a member that is a wholesale client differs from that applying to other members based on individual negotiation between the corporate director and the member.

8