Common use of Sale of Units Clause in Contracts

Sale of Units. You may agree to the payment to your financial planning business of an annual financial planning fee, subject to prescribed maximums, whereby such annual financial planning fee is recovered through the sale of units from your selected unit trust portfolio(s), by completing the relevant section on the form. We then pay the proceeds resulting from the sale of units to your financial planning business as an annual financial planning fee each month. Accrued annual financial planning fees will be recovered and paid to your financial planning business before processing a full withdrawal or switch instruction in respect of each of your selected unit trust portfolios. You will be taxed on capital gains from the sale of units from your selected unit trust portfolio and will get a statement at least annually showing the units sold to pay the annual financial planning fee. Whether option A or B is applicable depends on the unit class of the unit trust portfolio that you choose.

Sale of Units. You may agree to the payment to your financial planning business of an annual financial planning fee, subject to prescribed maximums, whereby such annual financial planning fee is recovered through the sale of units from your selected unit trust portfolio(s), by completing the relevant section on the form. We then pay the proceeds resulting from the sale of units to your financial planning business as an annual financial planning fee each month. Accrued annual financial planning fees will be recovered and paid to your financial planning business before processing a full withdrawal or switch instruction in respect of each of your selected unit trust portfolios. You will be taxed on capital gains from the sale of units from your selected unit trust portfolio and will get a statement at least annually showing the units sold to pay the annual financial planning fee. Whether option A or B is applicable depends on the unit class of the unit trust portfolio that you choose.