Document ID: chunk:federal_register_of_legislation:F2023C00646:body:0:p2
Version: federal_register_of_legislation:F2023C00646
Segment Type: other
Provision Reference: 
Character Range: 2723–5472

(or otherwise agrees in writing to the terms of) the written consent, is to be the fee recipient;
           (c) an explanation of why the account holder's consent is being sought;
           (d) in relation to an existing ongoing fee arrangement that might be renewed by the account holder and subject to paragraph (f)—the frequency and amount of each ongoing fee the account holder will pay during the upcoming year if the account holder were to renew the existing ongoing fee arrangement, where the upcoming year is a period of 12 months beginning on the next anniversary day for the ongoing fee arrangement;
           (e) in relation to a new ongoing fee arrangement that might be entered into by the account holder and subject to paragraph (f)—the frequency and amount of each ongoing fee the account holder will pay during the upcoming year if the account holder were to enter into a new ongoing fee arrangement, where the upcoming year is a period of 12 months beginning on a day that is no more than 30 days after the fee recipient gives or makes available to the account holder all of the information that this subsection requires to be included in a written consent;
           (f) if the amount of an ongoing fee the account holder will pay during the upcoming year cannot be determined—a reasonable estimate of the amount of the ongoing fees the account holder will pay during the upcoming year and an explanation of the method used to work out the estimate;
           (g) details of each account from which the account holder will pay ongoing fees and, for each account and subject to paragraph (f), the amount of each ongoing fee the account holder will pay from each account;
           (h) statements to the effect that:
(i) the consent will cease to have effect up to 150 days after the anniversary day for the ongoing fee arrangement; and
              (ii) the account holder can withdraw their consent or terminate or vary the ongoing fee arrangement at any time by notice in writing to the fee recipient.
(4) The written consent must be worded and presented in a clear, concise and effective manner.
(5) A written consent need not include the information specified in subsection (3) to the extent all of the following are satisfied:
           (a) the written consent is combined with a fee disclosure statement given to the account holder;
           (b) the information that would otherwise be required to be included in the written consent is included in the fee disclosure statement; and
           (c) the fee disclosure statement is worded and presented in a clear, concise and effective manner.

Endnotes

Endnote 1—Instrument history

Instrument number  Date of FRL registration     Date of commencement  Application,