Corporations Act 2001

CHAPTER 8B - CORPORATE COLLECTIVE INVESTMENT VEHICLES  

PART 8B.7 - CONTROL, FINANCIAL SERVICES AND DISCLOSURE  

Division 4 - Financial services and markets  

SECTION 1241F   AUSTRALIAN FINANCIAL SERVICES LICENCES  

1241F(1)    
For the purposes of Chapter 7 , a single Australian financial services licence can cover operating the business and conducting the affairs of more than one CCIV.

Note: This confirms that a corporate director of several CCIVs could be granted a single licence to operate the business and conduct the affairs of those CCIVs.

1241F(2)    
Treat subsection 911A(4) as also providing that a person is not exempt under any paragraph of subsection 911A(2) for a financial service they provide if:

(a)    the service is operating the business and conducting the affairs of a CCIV; and

(b)    the person is the corporate director of the CCIV.

1241F(3)    
Despite paragraph 912A(4)(b) , paragraph 912A(1)(d) also applies to an RSE licensee that is the corporate director of a CCIV.

1241F(4)    
Despite subsection 912A(5) , paragraph 912A(1)(h) also applies to an RSE licensee that is the corporate director of a CCIV, except to the extent that the risk relates solely to the operation of a regulated superannuation fund by the RSE licensee.

1241F(5)    
Treat subsection 912D(4) as also providing that, for the purposes of section 912D , a breach of a core obligation is taken to be significant in the case of a CCIV if the breach results, or is likely to result, in material loss or damage to a member of members of the CCIV.

1241F(6)    
(Repealed by No 76 of 2023, s 3, Sch 2 [ 568] (effective 20 October 2023).)