Section 962G — Corporations Act 2001 (Cth)

(1) A written consent given in relation to an ongoing fee arrangement complies with the requirements in this section if:

(a) before obtaining the consent, the fee recipient disclosed to the client, in writing, the matters set out in subsection (2); and

(b) the consent is for:

(i) the ongoing fee arrangement to be entered into, or renewed (as the case requires); and

(ii) the ongoing fees disclosed as required under paragraph (2)(e) to be charged to the client; and

(c) the consent is signed by the client; and

(d) the consent is dated; and

(e) the fee recipient has the consent or a copy of the consent.

(2) The matters that must be disclosed are as follows:

(a) the name and contact details of the person who is the fee recipient under the ongoing fee arrangement;

(b) an explanation of why the fee recipient is seeking the consent;

(c) the maximum period until the consent will cease to have effect under section 962H;

(d) information about the services that the client will be entitled to receive under the arrangement during that period;

(e) for each ongoing fee that the client will be required to pay under the arrangement during that period:

(i) the amount of the fee; or

(ii) if the amount of the fee cannot be determined at the time of disclosure, a reasonable estimate of the amount of the ongoing fee and an explanation of the method used to work out the estimate;

(f) the frequency of the ongoing fees during that period;

(g) a statement that the ongoing fee arrangement can be terminated by the client at any time;

(h) a statement that the arrangement will terminate, and no further advice will be provided or fee charged under it, if the consent is not given;

(i) the date on which the arrangement will terminate if the consent is not given;

(j) information about any other matters prescribed by the regulations.

Related sections

• s 962B — Meaning of ongoing fee
• s 962C — Meaning of fee recipient
• s 962F — Ongoing fee arrangement terminates without consent
• s 962H — When consent ceases to have effect
• s 962J — Client may terminate ongoing fee arrangement at any time
• s 962R — Fee recipient must not deduct ongoing fees without consent

Research how courts apply s 962G

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.