Managed Investments Act 1998 (62 of 1998)

Schedule 2  

Part 1   Amendment of the Corporations Law set out in section 82 of the Corporations Act 1989

141   After subsection 1043(1)

Insert:

(1A) Where a corporation offers interests in a registered scheme, the corporation must, in all prospectuses and other representations relating to the interests in the scheme, direct that all cheques and other payment orders in respect of applications for interests be drawn in favour of the responsible entity, or custodian or trustee where there is one, on account of the particular scheme and the applicant.