Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

PART 8B.4 - CORPORATE FINANCE AND FINANCIAL REPORTING FOR CCIVs  

Division 1 - Shares  

Subdivision B - Redemption of shares  

SECTION 1230K   SATISFYING REDEMPTION REQUESTS FOR NON-LIQUID SUB-FUNDS OF RETAIL CCIVs  

1230K(1)    
A retail CCIV that makes a redemption offer under section 1230J must ensure that redemption requests made in response to the offer are satisfied within 21 days after the offer closes.

1230K(2)    
No request made under the redemption offer may be satisfied while the offer is still open.

1230K(3)    
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 of money available	×	Amount shareholder requested to redeem
		Total of all amounts shareholders request to redeem