Corporations Regulations 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

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

Division 1 - Shares  

REGULATION 8B.4.15   CROSS INVESTMENT BETWEEN SUB-FUNDS OF A CCIV - REQUIREMENTS AND RESTRICTIONS ON MEMBERSHIP RIGHTS  

8B.4.15(1)    
For the purposes of paragraph 1230T(3)(b) of the Act, a CCIV ' s entitlement, as described in subsection 1230T(2) of the Act, to vote:

(a)    in respect of each share that the CCIV has acquired in respect of a sub-fund of the CCIV (the first sub-fund ) and that is referable to another sub-fund of the CCIV (the second sub-fund ); and

(b)    as a member of the second sub-fund on a resolution (the relevant resolution ) at a meeting of the members of the second sub-fund;

is subject to the requirement and restriction mentioned in subregulation (2) .

8B.4.15(2)    
For the purposes of subregulation (1) , there is:

(a)    a requirement that the CCIV must vote, in respect of each such share, on the relevant resolution in the way determined by resolution of the members of the first sub-fund; and

(b)    a restriction that the CCIV must not vote, in respect of each such share, on the relevant resolution if a resolution that determines the way the CCIV must vote on the relevant resolution is not made by the members of the first sub-fund.