Document ID: chunk:federal_register_of_legislation:C2019C00093:clause:1_29v
Version: federal_register_of_legislation:C2019C00093
Segment Type: clause
Provision Reference: sch 1 cl 29V
Character Range: 28095–30342

29V  Fees that may be charged in relation to a MySuper product
 (1) The trustee, or the trustees, of a regulated superannuation fund that offers a MySuper product may only charge fees of one or more of the following kinds in relation to that product:
 (a) an administration fee;
 (b) an investment fee;
 (c) a buy‑sell spread;
 (d) a switching fee;
 (e) an exit fee;
 (f) an activity fee.
 (2) An administration fee is a fee that relates to the administration or operation of the fund and includes costs incurred by the trustee, or the trustees, of the fund (that are not otherwise charged as an investment fee, a buy‑sell spread, a switching fee, an exit fee or an activity fee).
 (3) An investment fee is a fee that relates to the investment of the assets of the fund 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 incurred by the trustee, or the trustees, of the fund (that are not otherwise charged as an administration fee, a buy‑sell spread, a switching fee, an exit fee or an activity fee).
 (4) A buy‑sell spread is a fee to recover transaction costs incurred by the trustee, or the trustees, in relation to the sale and purchase of assets of the fund.
 (5) A switching fee is a fee to recover the costs of switching all or part of members' interests within the fund:
 (a) from a MySuper product in the fund to a MySuper product in the fund; or
 (b) from a MySuper product in the fund to a choice product in the fund; or
 (c) from a choice product in the fund to a MySuper product in the fund; or
 (d) from a choice product in the fund to a choice product in the fund.
 (6) An exit fee is a fee to recover the costs of disposing of all or part of members' interests in the fund.
 (7) An activity fee is a fee that relates to the costs incurred by the trustee, or the trustees, of the fund that:
 (a) are directly related to an activity of the trustee, or the trustees:
 (i) that is engaged in at the request, or with the consent, of a member; or
 (ii) that relates to a member and is required by law; and
 (b) are not otherwise charged as an administration fee, an investment fee, a buy‑sell spread, a switching fee or an exit fee.