Financial Markets Conduct Regulations 2014

37 Various individual action fees

(1)

The PDS must, in accordance with subclause (2), state the amount of the following fees:

(a)

any contribution fees:

(b)

any establishment fees:

(c)

any termination fees:

(d)

any withdrawal fees.

(2)

For the purposes of subclause (1), the PDS must,—

(a)

if the fee, or the minimum or maximum amount of the fee, can be expressed as a dollar amount (or as a percentage of another dollar amount), state the dollar amount (or the percentage and a description of the other dollar amount):

(b)

if the fee, or the minimum or maximum amount of the fee, cannot be expressed as a dollar amount (or as a percentage of another dollar amount), state the basis or method of calculating the fee.

(3)

The PDS must state how and when the fees in subclause (1) are payable.

(4)

If there is more than 1 fund covered by the PDS and any of the information under subclause (1) or (3) is different for any of those funds, the information under subclauses (1) and (3) must be stated in a table.

(5)

The PDS must—

(a)

contain a statement to the effect that an investor may be charged other fees on an individual basis for investor-specific decisions or actions; and

(b)

incorporate by reference a publicly available document that contains information about those fees (including a description of the fee, the minimum or maximum amount of the fee or how the fee is ascertained, and how and when the fee is payable).