Document ID: chunk:federal_register_of_legislation:F2021C00160:body:0:p27
Version: federal_register_of_legislation:F2021C00160
Segment Type: other
Provision Reference: 
Character Range: 73535–76461

$50,000.

    217 Contribution fees

            (1) The amounts of contribution fees to be inserted in the Example of Annual Fees and Costs for a collective investment product, are applied against a $5,000 investment.

            (2) If a Product Disclosure Statement relates to a product:

               (a) that is paid for by a single lump sum amount; and

               (b) for which no additional contributions can be made;

            the Example of Annual Fees and Costs should be modified by removing references to contributions or contribution fees.

            (3) The example must be based on a balance:

               (a) of $50,000; or

               (b) worked out in accordance with clause 215.

               Note: If there is a fee paid for the initial contribution, it should be described as the establishment fee.

    218 Administration fees and costs, investment fees and costs and transaction costs for a superannuation product

            Administration fees and costs

            (1) The example of administration fees and costs for a MySuper product or an investment option offered by a superannuation entity is applied to an amount of $50,000 or an amount that is a multiple of $50,000 if clause 215 applies.

               Note: In calculating the amount, do not include contributions that may be made during the year.

            (2) If there is a range in the amount of administration fees and costs that may be charged for a MySuper product or an investment option offered by a superannuation entity, the example must use the highest administration fees and costs in the range.

            (2A) If the total amount of administration fees and costs includes an amount that applies regardless of the balance, the amounts must be disclosed in the table in clause 211 as follows:

Administration fees and costs  [ ] ] ]   For every $50,000 you have in the superannuation product, you will be charged or have deducted from your investment $[  ] in administration fees and costs, plus $[  ] regardless of your balance

            Investment fees and costs

            (3) The example of investment fees and costs for a MySuper product or an investment option offered by a superannuation entity is applied to an amount of $50,000 or an amount that is a multiple of $50,000 if clause 215 applies.

               Note: In calculating the amount, do not include contributions that may be made during the year.

            (3A) Where the amount for performance fees is negative, the amount of performance fees included in investment fees and costs in the example must be zero.

            (4) If there is a range in the amount of investment fees and costs that may be charged for a MySuper product or an investment option offered by a superannuation entity, the example must use the highest investment fees and costs in the range.

            Transaction costs

            (4A) The