Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

PART 8B.7 - CONTROL, FINANCIAL SERVICES AND DISCLOSURE  

Division 4 - Financial services and markets  

SECTION 1241A   FOR CHAPTER 7, TREAT THE CORPORATE DIRECTOR AS PROVIDING FINANCIAL SERVICES ETC. BEING PROVIDED BY THE CCIV  

1241A(1)    
This section applies to a provision of Chapter 7 that applies in relation to:

(a)    a financial services licensee; or

(b)    a financial service or a financial services business; or

(c)    a matter prescribed by the regulations for the purposes of this paragraph.

General rule

1241A(2)    
For the purposes of that provision of Chapter 7 :

(a)    treat any conduct engaged in by, or on behalf of, a CCIV as also being engaged in by, or on behalf of, the corporate director of the CCIV; and

(b)    treat any conduct relating to the CCIV that is engaged in by a person (other than the corporate director of the CCIV) as also being engaged in by that person in relation to the corporate director of the CCIV.

1241A(3)    
In subsection (2) , conduct means an act, an omission to perform an act or a state of affairs.

Exceptions

1241A(4)    
If the CCIV issues a security in the CCIV, then subsection (2) does not treat the corporate director of the CCIV as also being the issuer of the security.

1241A(5)    

If the CCIV is a participant in:

(a)    a clearing and settlement facility; or

(b)    a financial market;

subsection (2) does not treat the corporate director of the CCIV as also being a participant in relation to the facility or market.

1241A(6)    
Subsection (2) does not apply in any circumstances prescribed by the regulations for the purposes of this subsection.