Corporations Act 2001
Modifying legislative instruments: The application of Ch 5C is affected by the following legislative instruments that commenced on or after 1 January 2022: ASIC Corporations (Asset Holding Standards for Responsible Entities) Instrument 2024/16.
Modifying legislative instruments: The application of Pt 5C.2 is affected by the following legislative instruments that commenced on or after 1 January 2022: ASIC Corporations (Asset Holding Standards for Responsible Entities) Instrument 2024/16.
CCH Note: Division 1 is modified by the ASIC Corporations (Discretions for Setting the Issue Price and Withdrawal Price of Interests in Managed Investment Schemes) Instrument 2023/693; and the ASIC Corporations (Changing the Responsible Entity) Instrument 2023/681.
CCH Note: Section 601FE is modified by the ASIC Corporations (Discretions for Setting the Issue Price and Withdrawal Price of Interests in Managed Investment Schemes) Instrument 2023/693; and the ASIC Corporations (Changing the Responsible Entity) Instrument 2023/681.
An employee of the responsible entity of a registered scheme must not: (a) make use of information acquired through being an employee of the responsible entity in order to:
(i) gain an improper advantage for the employee or another person; or
(b) make improper use of their position as an employee to gain, directly or indirectly, an advantage for themselves or for any other person or to cause detriment to the members of the scheme.
(ii) cause detriment to members of the scheme; or
View history note
Hide history note601FE(2)
A duty of an employee of the responsible entity under subsection (1) overrides any conflicting duty the employee has under Part 2D.1.
601FE(3)
A person who contravenes, or is involved in a contravention of, subsection (1) contravenes this subsection.
Note 1: Section 79 defines involved .
Note 2: Subsection (3) is a civil penalty provision (see section 1317E ).
601FE(4)
A person must not intentionally contravene, or be involved in a contravention of, subsection (1) .
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