Corporations Act 2001
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Hide history noteCCH note - modifying legislative instruments: The application of Pt 8B.3 is affected by the following legislative instruments that commenced or were amended on or after 1 January 2022: the ASIC Corporations (CCIV Auditors) Instrument 2024/668.
For other legislative instruments or class orders before 1 January 2022 that affect the application of Pt 8B.3, please consult the legislative instruments or class orders directly. These are reproduced in the regulatory-resources section of the company-law practice area in CCH iKnowConnect.
CCH Note: Division 6 is modified by the ASIC Corporations (Chapter 5C - Miscellaneous Provisions) Instrument 2017/125.
CCH Note: Subdivision B is modified by the ASIC Corporations (Chapter 5C - Miscellaneous Provisions) Instrument 2017/125.
CCH Note: Section 1228H is modified by the ASIC Corporations (Chapter 5C - Miscellaneous Provisions) Instrument 2017/125.
For the purposes of section 1228F , the value of a share in a CCIV is the amount worked out under this section.
1228H(2)
The value of a share in a CCIV (other than a share to which subsection (3) , (4) or (5) applies) is the amount that the corporate director of the CCIV determines in writing to be the price that a willing but not anxious buyer would pay for the share if it was sold on the business day immediately before the day on which the poll is taken.
1228H(3)
The value of a share in a listed CCIV is the last sale price on the relevant declared financial market on the trading day immediately before the day on which the poll is taken.
1228H(4)
The value of a share in a retail CCIV where: (a) the CCIV is not listed; and (b) the share is redeemable; and (c) the share is referable to a sub-fund to which section 1230H applies (about when a sub-fund is liquid);
is the amount that, under the constitution of the CCIV, would be paid to redeem the share on the business day immediately before the day on which the poll is taken.
1228H(5)
The value of a share in a wholesale CCIV where: (a) the share is redeemable; and (b) the share is referable to a sub-fund to which section 1230H applies (about when a sub-fund is liquid); and (c) the CCIV has a provision in its constitution as to the amount to be paid for redeeming the share;
is the amount that, under the provision, would be paid to redeem the share on the business day immediately before the day on which the poll is taken.
1228H(6)
Section 253F does not apply in relation to a CCIV or a sub-fund of a CCIV.
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