Corporations Act 2001
Modifying legislative instruments: The application of Ch 5C is affected by the following legislative instruments that commenced on or after 1 January 2022: ASIC Corporations (Asset Holding Standards for Responsible Entities) Instrument 2024/16.
Modifying legislative instruments: The application of Pt 5C.2 is affected by the following legislative instruments that commenced on or after 1 January 2022: ASIC Corporations (Asset Holding Standards for Responsible Entities) Instrument 2024/16.
CCH Note: Division 1 is modified by the ASIC Corporations (Discretions for Setting the Issue Price and Withdrawal Price of Interests in Managed Investment Schemes) Instrument 2023/693; and the ASIC Corporations (Changing the Responsible Entity) Instrument 2023/681.
CCH Note: Section 601FG is modified by the ASIC Corporations (Discretions for Setting the Issue Price and Withdrawal Price of Interests in Managed Investment Schemes) Instrument 2023/693; and the ASIC Corporations (Equality of Treatment Impacting on the Acquisition of Scheme Interests and CCIV Shares) Instrument 2023/697; and the ASIC Corporations (Changing the Responsible Entity) Instrument 2023/681.
The responsible entity of a registered scheme may acquire and hold an interest in the scheme, but it must only do so: (a) for not less than the consideration that would be payable if the interest were acquired by another person; and (b) subject to terms and conditions that would not disadvantage other members.
Note: If the responsible entity holds an interest in the scheme, it does so subject to section 253E (certain members cannot vote or be counted).
View history note
Hide history note601FG(2)
A responsible entity who contravenes subsection (1), and any person who is involved in a responsible entity ' s contravention of that subsection, contravenes this subsection.
Note 1: Section 79 defines involved .
Note 2: Subsection (2) is a civil penalty provision (see section 1317E ).
601FG(3)
A person must not intentionally be involved in a responsible entity ' s contravention of subsection (1) .
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