ASIC Corporations (Disclosure of Fees and Costs) Instrument 2019/1070
104ACalculating costs in management fees and costs
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104A Calculating costs in management fees and costs
Despite clause 214, the part of the management fees and costs for an investment option offered by a managed investment scheme disclosed in a Product Disclosure Statement that is available during a particular financial year that relates to the costs (including indirect costs) incurred by the responsible entity or the operator of a notified foreign passport fund, or in an interposed vehicle or derivative financial product, is to be determined:
(a) based on the costs for the previous financial year; or
(b) if the investment option was offered from at least 11 months before the end of the previous financial year but for less than a full financial year—based on the costs for that period and adjusted, to reflect a 12 month period; or
(c) if the investment option was not offered from at least 11 months before the end of the previous financial year and not first offered in the current financial year—based on the responsible person’s reasonable estimate of the costs for the current financial year at the time the Product Disclosure Statement is prepared; or
(d) if the investment option was first offered in the current financial year—based on the responsible person’s reasonable estimate of the costs for the current financial year at the time the Product Disclosure Statement is prepared, adjusted to reflect a 12 month period.