Corporations and Other Legislation Amendment (Corporate Collective Investment Vehicle Framework) Regulations 2022 (F2022L00469)

Schedule 2   Simple sub-fund products

Corporations Regulations 2001

1   Subregulation 1.0.02(1)

Insert:

simple sub-fund product means a security in a retail CCIV that is, or was, offered because the security is referable to a sub-fund of the CCIV (other than a passport fund) that meets one of the following requirements:

(a) the CCIV, in respect of the sub-fund, invests at least 80% of the assets of the sub-fund in money in an account with a bank on the basis that the money is available for withdrawal:

(i) immediately during the bank's normal business hours; or

(ii) at the end of a fixed-term period that does not exceed 3 months;

(b) the CCIV, in respect of the sub-fund, invests at least 80% of the assets of the sub-fund in money on deposit with a bank on the basis that the money is available for withdrawal:

(i) immediately during the bank's normal business hours; or

(ii) at the end of a fixed-term period that does not exceed 3 months;

(c) the CCIV, in respect of the sub-fund, invests at least 80% of the assets of the sub-fund under one or more arrangements by which the corporate director of the CCIV can reasonably expect to realise the investment, at the market value of the assets, within 10 days.