Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES

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

CCH note - modifying legislative instruments: The application of Pt 8B.7 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.7, 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.

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Division 4 - Financial services and markets

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SECTION 1241C EXTRA KINDS OF FINANCIAL SERVICES RELATING TO CCIVs

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1241C(1)
Subject to paragraph 766A(2)(b) , treat subsection 766A(1) as also providing that a person provides a financial service if:

(a) the person operates the business and conducts the affairs of a CCIV; and

(b) the person is the corporate director of the CCIV.

Note: Subsection (1) means persons other than the corporate director will not be treated as providing that financial service if they operate the business and conduct the affairs of the CCIV while:

(a) acting as an agent of the CCIV, or as an agent or employee of the corporate director; or

(b) taking steps to wind up the CCIV.

1241C(2)
For the purposes of Chapter 7 , each of the members of a CCIV covered by subsection (1) is a client for the financial service covered by that subsection.

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