THE CORPORATIONS LAW

CHAPTER 5C - MANAGED INVESTMENT SCHEMES

PART 5C.6 - MEMBERS' RIGHTS TO WITHDRAW FROM A SCHEME

SECTION 601KD   NON-LIQUID SCHEMES - HOW PAYMENTS ARE TO BE MADE  

601KD     The responsible entity of a registered scheme that is not liquid must ensure that withdrawal requests made in response to a withdrawal offer are satisfied within 21 days after the offer closes. No request made under the withdrawal offer may be satisfied while the offer is still open. If an insufficient amount of money is available from the assets specified in the offer to satisfy all requests, the requests are to be satisfied proportionately in accordance with the formula:

                             Amount member              
        Amount of     x   requests to withdraw          
     money available      --------------------          
                          Total of all amounts          
                           members request to           
                               withdraw