CHAPTER 8B
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CORPORATE COLLECTIVE INVESTMENT VEHICLES
History
Ch 8B inserted by FRLI No F2022L00469, Sch 1[25] (effective 1 July 2022).
PART 8B.4
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CORPORATE FINANCE AND FINANCIAL REPORTING FOR CCIVs
History
Pt 8B.4 inserted by FRLI No F2022L00469, Sch 1[25] (effective 1 July 2022).
Division 1
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Shares
History
Div 1 inserted by FRLI No F2022L00469, Sch 1[25] (effective 1 July 2022).
REGULATION 8B.4.10
8B.4.10
CROSS INVESTMENT BETWEEN SUB-FUNDS OF A CCIV
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RESTRICTION FOR CIRCULAR CROSS-INVESTMENT
For the purposes of subsection
1230R(1)
of the Act, a CCIV must not acquire, in respect of a sub-fund of the CCIV (the
acquiring sub-fund
), one or more shares referable to another sub-fund of the CCIV (the
issuing sub-fund
) if, at the time of the proposed acquisition, the assets of the issuing sub-fund:
(a)
directly include; or
(b)
indirectly include, through one or more interposed sub-funds of the CCIV;
one or more shares referable to the acquiring sub-fund.
Note: Paragraph
(b)
applies if, for example, at the time of the proposed acquisition:
(a) the assets of the issuing sub-fund include shares referable to sub-fund C of the CCIV; and
(b) the assets of sub-fund C include shares referable to sub-fund D of the CCIV; and
(c) the assets of sub-fund D include shares referable to the acquiring sub-fund.
In this example, sub-funds C and D are each interposed sub-funds.
History
Reg 8B.4.10 inserted by FRLI No F2022L00469, Sch 1[25] (effective 1 July 2022).