Corporations Act 2001
CHAPTER 1
-
INTRODUCTORY
PART 1.2
-
INTERPRETATION
Division 7
-
Interpretation of other expressions
SECTION 57
CLASSES OF SHARES OR INTERESTS IN MANAGED INVESTMENT SCHEMES
57(1)
The shares in a body corporate, if not divided into 2 or more classes, constitute a class.
57(2)
If the interests in a managed investment scheme to which an undertaking relates are not divided into 2 or more classes, they constitute a class.
The shares in a body corporate, if not divided into 2 or more classes, constitute a class.
[ CCH Note: S 57(1) will be amended by No 8 of 2022, s 3, Sch 2[35], by inserting the note (effective 1 July 2022). The note will read:
Note: A CCIV must have a minimum of one class of shares per sub-fund: see section 1230A .]
If the interests in a managed investment scheme to which an undertaking relates are not divided into 2 or more classes, they constitute a class.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.