Amount of financial advice and legal advice compensation
206 Amount of financial advice and legal advice compensation
Financial advice
The Commission must determine the amount of compensation under subsection 205(1) for the cost of the financial advice that it considers reasonable.
Legal advice
The Commission must determine the amount of compensation under subsection 205(2) for the cost of the legal advice that it considers reasonable.
Limit
The sum of the total amount of compensation under subsections 205(1) and (2) in respect of the person must not exceed $2,400.
The amount of $2,400 is indexed under section 404.
The amount of $2,400 applies both to financial advice and legal advice under this Part and financial advice and legal advice under Part 2 if the day on which the offer under this Part was made, and the day specified in the first notice given to the person under section 76, are the same.
This Act’s bill:Explanatory memorandumSecond reading speech
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