Modifications for confirmation of transactions
Part 15 Modifications for confirmation of transactions
15.1 After subsection 1017F(5A)
insert
Despite subsection (5), if:
the cost of a transaction (including taxes and charges) is not known at the time at which confirmation of the transaction would be required to be given; and
all of the other information required under subsection (7) in relation to confirmation of the transaction is known at that time;
the confirmation of the transaction is to be provided in accordance with subsection (5C).
Confirmation is to be provided as follows:
all of the information required, except for the cost of the transaction, is to be provided as soon as practicable in accordance with subsection (5);
the cost of the transaction may be provided in whichever of the following can be done first:
a secondary confirmation notice provided as soon as practicable after the cost is known;
a standing facility mentioned in paragraph 1017F(5)(b);
the first periodic report under section 1017D after the cost is known.
This Act’s bill:Explanatory statement
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