Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

PART 8B.7 - CONTROL, FINANCIAL SERVICES AND DISCLOSURE  

Division 3 - Fundraising  

SECTION 1240H   OFFERING SECURITIES OF A CCIV OR SUB-FUND THAT DOES NOT EXIST  

1240H(1)    
A person must not offer securities of a CCIV that does not exist if the offer would give rise to an obligation to give a Product Disclosure Statement under Chapter 7 (as that Chapter applies to securities in a CCIV under Division 4 of Part 8B.7 ) if the CCIV did exist.

1240H(2)    
A person must not offer securities of a CCIV that are referable to a sub-fund of the CCIV that has not been established if the offer would give rise to an obligation to give a Product Disclosure Statement under Chapter 7 (as that Chapter applies to securities in a CCIV under Division 4 of Part 8B.7 ) if the sub-fund were established.

Note 1: For when a sub-fund is established, see section 1222T .

Note 2: For when shares and debentures are referable to a sub-fund of a CCIV, see sections 1230 (for shares) and 1231N (for debentures).

1240H(3)    
Subsections (1) and (2) apply even if it is proposed to incorporate the CCIV or register the sub-fund.

1240H(4)    
In this section, securities has the same meaning as it has in Chapter 6D (apart from section 1240G ).

1240H(5)    

For the purposes of subsection (2) , a security referred to in paragraph 95(c) or (d) is taken to be referable to the sub-fund of the CCIV to which the relevant security covered by paragraph 95(a) or (b) is, or would be, referable.

Note: For example, an option to acquire by way of issue a share in a CCIV (covered by paragraph 95(d) ) is referable to the sub-fund of the CCIV to which the share (covered by paragraph 95(a) ) is referable.

1240H(6)    
The following provisions apply in relation to this section in the same way the provisions apply in relation to Chapter 6D :

(a)    

subsection 700(4) ;

(b)    sections 702 , 703 and 703A .