Corporations Act 2001
CHAPTER 5C
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MANAGED INVESTMENT SCHEMES
PART 5C.3
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THE CONSTITUTION
SECTION 601GC
CHANGING THE CONSTITUTION
601GC(1)
The constitution of a registered scheme may be modified, or repealed and replaced with a new constitution: (a) by special resolution of the members of the scheme; or (b) by the responsible entity if the responsible entity reasonably considers the change will not adversely affect members ' rights.
601GC(2)
The responsible entity must lodge with ASIC a copy of the modification or the new constitution. The modification, or repeal and replacement, cannot take effect until the copy has been lodged.
601GC(3)
The responsible entity must lodge with ASIC a consolidated copy of the scheme ' s constitution if ASIC directs it to do so.
601GC(4)
The responsible entity must send a copy of the scheme ' s constitution to a member of the scheme within 7 days if the member: (a) asks the responsible entity, in writing, for the copy; and (b) pays any fee (up to the prescribed amount) required by the responsible entity.
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.
CCH Note: Section 601GC 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.
The constitution of a registered scheme may be modified, or repealed and replaced with a new constitution: (a) by special resolution of the members of the scheme; or (b) by the responsible entity if the responsible entity reasonably considers the change will not adversely affect members ' rights.
601GC(2)
The responsible entity must lodge with ASIC a copy of the modification or the new constitution. The modification, or repeal and replacement, cannot take effect until the copy has been lodged.
601GC(3)
The responsible entity must lodge with ASIC a consolidated copy of the scheme ' s constitution if ASIC directs it to do so.
601GC(4)
The responsible entity must send a copy of the scheme ' s constitution to a member of the scheme within 7 days if the member: (a) asks the responsible entity, in writing, for the copy; and (b) pays any fee (up to the prescribed amount) required by the responsible entity.
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