Section 962Y — Corporations Act 2001 (Cth)

(1) For the purposes of this Division, the Minister may approve one or more forms for giving consent in relation to one or more of the following:

(a) entering into an ongoing fee arrangement;

(b) renewing an ongoing fee arrangement;

(c) deducting an amount in respect of ongoing fees from an account;

(d) arranging to deduct an amount in respect of ongoing fees from an account.

Note: Despite consent being given in an approved form, an account provider (other than the fee recipient) may request additional information from the fee recipient before deducting ongoing fees from an account.

(2) If the Minister has approved a form under subsection (1), a consent given for the purposes of this Division must be in the approved form.

Related sections

• s 962W — Conditions requiring consent to be given are void
• s 962WA — Ongoing fee arrangement terminates if fee deducted without consent
• s 962X — Obligation to keep records of compliance
• s 962YA — Combining information in a single notice or form
• s 962Z — Civil penalty provision—charging ongoing fees after arrangement terminated
• s 962ZA — Effect of termination

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