Corporations Act 2001
View history note
Hide history noteCCH note - modifying legislative instruments: The application of Pt 8B.4 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.4, 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.
A CCIV can issue a share only if the rights attaching to the share, so far as the rights are in respect of the assets of the CCIV, are restricted to rights in respect of the assets of one (and only one) sub-fund of the CCIV. This is the sub-fund to which the share is referable .
1230(2)
The sub-fund to which the share is referable does not change if, after the share is issued, the CCIV acquires the share in respect of another of its sub-funds.
Note: For cross-investment between sub-funds, see Subdivision F .
1230(3)
Subsection (1) and regulations made for the purposes of subsection (5) limit paragraph 124(1)(a) and section 254A in relation to a CCIV.
Note: Subsection (1) effectively also limits some other paragraphs of subsection 124(1) , such as paragraph (c) (about granting options over unissued shares in a company).
1230(4)
A Court must not make an order under section 254E that is inconsistent with subsection (1) of this section, or regulations made for the purposes of subsection (5) of this section, unless the Court considers that the interests of justice require otherwise.
1230(5)
Regulations made for the purposes of this subsection may make provision for and in relation to further requirements for the issue of shares by a CCIV.
1230(6)
Without limiting subsection (5) , regulations made for the purposes of that subsection may prescribe requirements for the issue of shares, or classes of shares, in relation to one or more of the following: (a) all CCIVs; (b) a specified class of CCIVs; (c) all sub-funds of all CCIVs; (d) a specified class of sub-funds of CCIVs; (e) all sub-funds of a specified class of CCIVs.
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