Document ID: chunk:federal_register_of_legislation:F2021C00174:reg:3:p24
Version: federal_register_of_legislation:F2021C00174
Segment Type: reg
Provision Reference: reg 3 (pt 24/29)
Character Range: 115299–118728

and

                     (ix) how to obtain a copy of the scheme's annual budget;

              Suspension and forfeiture for non-payment

                  (b) information about suspension and forfeiture of a membership interest due to failure to pay levies or failure to pay other fees or costs, including any fees or costs that may be incurred in selling a forfeited membership that will be payable from the proceeds received from the sale of the forfeited membership;

                  Management fees

                  (c) information about the amount payable to the responsible entity or any delegate or associate of the responsible entity for managing the scheme, including:

                     (i) for allocation points-based and interval-based programs—the amount stated as a percentage of the annual operating budget of the scheme, with a worked example showing the amount in dollars per year for the membership option used in the Example of Annual Fees and Costs;

                     (ii) for a PAYG points-based program—details of how the amount is determined;

                  Application of purchase price monies

                  (d) information about how the purchase price is applied including any arrangements with and payments to an associate of the responsible entity;

                  Changes to fees and costs

                  (e) the following information about changes to the fees and costs, if applicable:

                     (i) information about the responsible entity's right to vary the amount of the fees without the member's consent;

                     (ii) any indexation arrangements that apply to fees and costs;

                     (iii) the period of advance notice to members required for variations to fees and costs; and

                     (iv) any limits on changes to fees and costs contained in the scheme's constitution, and when those limits apply;

                  Other kinds of fees

                  (f) information about accommodation usage fees;

                  (g) information about fees for any additional services;

                  (h) information about any incidental fees;

                  (i) information about where to find details of the fees and costs of any optional programs offered to members;

                  (j) information about fees to transfer a membership;

                  Fees mentioned in the Summary tables

                  (k) the explanation of the fees mentioned in:

                     (i) footnotes 1 and 2 to the Purchase Price and Upfront Fees and Costs Summary table; and

                     (ii) footnotes 2, 3 and 4 to the Fees and Costs Summary table;

                  Tax

                  (l) a cross reference to the tax section of the Product Disclosure Statement;

                  (m) if the interest in the scheme is subject to tax—whether the benefit of any tax deduction is passed onto the member in the form of a reduced fee or cost;

                  Adviser remuneration

                  (n) an explanation of any adviser remuneration (including commissions) that forms part of any fee or cost in the Fees and Costs Summary table, including (if known to the responsible entity):

                     (i) the method of calculation of the remuneration;

                     (ii) the amounts or range of amounts;

                     (iii) whether