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

43   Section 68A

Repeal, substitute:

68A Exempt interests in managed investment schemes in relation to a jurisdiction

(1) Each of the following is an exempt interest in a managed investment scheme in relation to Western Australia:

(a) an interest in a registered scheme that a registered co-operative company has issued, or proposes to issue, to a member of the company

(b) an interest in a registered scheme in so far as a registered co-operative company

(i) offers the interest to a member of the company for subscription or purchase; or

(ii) invites such a member to subscribe for or buy the interest

(c) an interest in a registered scheme in so far as:

(i) a registered co-operative company:

(A) offers the interest to a person other than a member of the company; or

(B) invites a person other than a member to subscribe for or buy the interest; and

(ii) the terms or circumstances of the offer or invitation are such that, if the offer, or an offer that the person makes because of the invitation, is accepted, the acceptance will result in the person becoming a member of the company.

(2) In subsection (1):

registered co-operative company means a body of the kind referred to in paragraph 66A(4)(c).