217Contribution fees

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.