Corporations Act 2001
View history note
Hide history noteA licensed trustee company that operates a common fund that is not a registered scheme must not give a financial benefit in relation to the common fund to a related party.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).
601SCD(2)
Subsection (1) does not apply if the financial benefit is given on terms that: (a) would be reasonable in the circumstances if the trustee company and the related party were dealing at arm ' s length; or (b) are less favourable to the related party than the terms referred to in paragraph (a).
601SCD(3)
In this section:
financial benefit
(Repealed by No 76 of 2023, s 3, Sch 2[107] (effective 20 October 2023).)
related party
has the meaning given by section
228
, as if references in that section to a public company were references to a licensed trustee company.
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