Corporations Act 2001

CHAPTER 5D - LICENSED TRUSTEE COMPANIES  

PART 5D.2 - POWERS ETC. OF LICENSED TRUSTEE COMPANIES  

Division 3 - Common funds  

SECTION 601SCA   COMMON FUNDS OF LICENSED TRUSTEE COMPANIES  

601SCA(1)    
A licensed trustee company may, for the purposes of investment, pool together into a fund or funds money ( estate money ) from 2 or more estates that are administered or managed by the trustee company in the performance of estate management functions.

601SCA(2)    

For the purposes of this Chapter, a fund into which money is pooled as mentioned in subsection (1) is a common fund .

Note: A common fund may also be regulated under Chapter 5C (if the fund constitutes a managed investment scheme) but see also section 601SCAA , which deals with any inconsistencies in regulation between the Chapters.

601SCA(3)    
A common fund may also include other money.

601SCA(4)    
This section has effect subject to regulations made for the purpose of section 601SCC .

Note: For example, the regulations may limit the circumstances in which other money may be pooled together with estate money.