Section 962V — Corporations Act 2001: When consent ceases to have effect

(1) A consent given in relation to an ongoing fee arrangement for the purposes of this Subdivision ceases to have effect: (a) unless paragraph (b) or (c) applies—at the end of the period of 150 days after the anniversary of the day on which the ongoing fee arrangement was entered into; or (b) if the ongoing fee arrangement is terminated—at the time the ongoing fee arrangement terminates; or (c) if a new consent is given in relation to the ongoing fee arrangement for the purposes of this Subdivision—at the time that new consent is given. (2) If: (a) a consent given in relation to an ongoing fee arrangement for the purposes of this Subdivision ceases to have effect under subsection (1); and (b) a fee recipient gave a copy of the consent to an account provider under paragraph 962S(3)(c); the fee recipient must give written notice of the cessation to the account provider within 10 business days of the cessation.