Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

PART 8B.3 - CORPORATE GOVERNANCE OF CCIVs  

Division 5 - Member protection  

Subdivision A - Related party transactions by retail CCIVs to be approved at sub-fund level  

SECTION 1227E   RELATED PARTIES OF A CCIV  

1227E(1)    
Section 228 does not apply in relation to a CCIV.

Corporate director etc

1227E(2)    
The following are related parties of a CCIV:

(a)    the corporate director of the CCIV;

(b)    an entity that controls the corporate director of the CCIV.

Directors and their spouses

1227E(3)    
The following persons are related parties of a CCIV:

(a)    directors of the corporate director of the CCIV;

(b)    directors (if any) of an entity that controls the corporate director of the CCIV;

(c)    if the corporate director of the CCIV is controlled by an entity that is not a body corporate - each of the persons making up the controlling entity;

(d)    spouses of the persons referred to in paragraphs (a) , (b) and (c) .

Relatives of directors and spouses

1227E(4)    
The following relatives of persons referred to in subsection (3) are related parties of the CCIV:

(a)    parents;

(b)    children.

Entities controlled by other related parties

1227E(5)    
An entity controlled by a related party referred to in subsection (2) , (3) or (4) is a related party of the CCIV unless the entity is also controlled by the CCIV.

Related party in previous 6 months

1227E(6)    
An entity is a related party of a CCIV at a particular time if the entity was a related party of the CCIV of a kind referred to in subsection (2) , (3) , (4) or (5) at any time within the previous 6 months.

Entity has reasonable grounds to believe it will become related party in future

1227E(7)    
An entity is a related party of a CCIV at a particular time if the entity believes or has reasonable grounds to believe that it is likely to become a related party of the CCIV of a kind referred to in subsection (2) , (3) , (4) or (5) at any time in the future.

Acting in concert with related party

1227E(8)    
An entity is a related party of a CCIV if the entity acts in concert with a related party of the CCIV on the understanding that the related party will receive a financial benefit if the CCIV gives the entity a financial benefit.