Section 962C — Corporations Act 2001: Meaning of fee recipient

(1) Where: (a) a financial services licensee enters into an ongoing fee arrangement; and (b) the rights of the licensee under the arrangement have not been assigned to another person; the licensee is the fee recipient in relation to the arrangement. (2) Where: (a) a representative of a financial services licensee enters into an ongoing fee arrangement; and (b) the rights of the representative under the arrangement have not been assigned to another person; the representative is the fee recipient in relation to the arrangement. (3) Where the rights of a financial services licensee, or a representative of a financial services licensee, under an ongoing fee arrangement have been assigned to another person, the person who currently holds those rights is the fee recipient in relation to the arrangement.