Corporations Amendment (Asia Region Funds Passport) Act 2018 (61 of 2018)
Schedule 2 Amendments consequential on Chapter 8A
Corporations Act 2001
338 After subsection 1317HB(4)
Insert:
(4A) If the responsible entity for a registered scheme is ordered to compensate the scheme, the responsible entity must transfer the amount of the compensation to the scheme property. If anyone else is ordered to compensate the scheme, the responsible entity may recover the compensation on behalf of the scheme.
(4B) If the operator of a notified foreign passport fund is ordered to compensate the fund, the operator must transfer the amount of the compensation to the fund property. If anyone else is ordered to compensate the fund, the operator may recover the compensation on behalf of the fund.
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