ASIC Superannuation (Consent to Pass on Costs of Providing Advice) Instrument 2021/126
1ASIC Superannuation (Consent to Pass on Costs of Providing Advice) Instrument 2021/126
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ASIC Superannuation (Consent to Pass on Costs of Providing Advice) Instrument 2021/126
About this compilation
Compilation No. 1
This is a compilation of ASIC Superannuation (Consent to Pass on Costs of Providing Advice) Instrument 2021/126 as in force on 29 June 2023. It includes any commenced amendment affecting the legislative instrument to that date.
This compilation was prepared by the Australian Securities and Investments Commission.
The notes at the end of this compilation (the endnotes) include information
about amending instruments and the amendment history of each amended provision.
Contents
1 Name of legislative instrument
5 Requirements for giving written consent to pass on advice costs to member
Part 1—Preliminary
1 Name of legislative instrument
This is the ASIC Superannuation (Consent to Pass on Costs of Providing Advice) Instrument 2021/126.
3 Authority
This instrument is made under subsection 99FA(2) of the Superannuation Industry (Supervision) Act 1993.
4 Definitions
In this instrument:
financial product advice has the meaning given by section 766B of the Corporations Act 2001.
ongoing fee arrangement has the meaning given by section 962A of the Corporations Act 2001.
SIS Act means the Superannuation Industry (Supervision) Act 1993.
Part 2—Determination
5 Requirements for giving written consent to pass on advice costs to member
(1) The requirements in this section are specified for the purposes of subparagraph 99FA(1)(d)(ii) of the SIS Act in relation to giving written consent by a member of a regulated superannuation fund to permit the trustee or trustees of the regulated superannuation fund to pass the cost of providing financial product advice in relation to the member on to the member.
(2) A written consent may only be given by a member by signing, or otherwise agreeing in writing (including electronically) to the terms of, a written consent which complies with this section and must also bear a date indicating when the consent was given by the member.