THE CORPORATIONS LAW

CCH Note: Part 13 of the Corporations Act 1989, inserted by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as follows:

PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82
The Corporations Law is as follows:...

CHAPTER 5C - MANAGED INVESTMENT SCHEMES

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PART 5C.2 - THE RESPONSIBLE ENTITY

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Division 1 - Responsibilities and powers

SECTION 601FG ACQUISITION OF INTEREST IN SCHEME BY RESPONSIBLE ENTITY

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601FG The responsible entity of a registered scheme may acquire and hold an interest in the scheme, but it must only do so:

(a) for not less than the consideration that would be payable if the interest were acquired by another person; and

(b) subject to terms and conditions that would not disadvantage other members.

Note 1:

If the responsible entity holds an interest in the scheme, it does so subject to section 253E (certain members cannot vote or be counted).

Note 2:

This section is a civil penalty provision as defined in section 1317DA and Part 9.4B provides for civil and criminal consequences of contravening it.

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