Corporations Act 2001
CHAPTER 8B
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CORPORATE COLLECTIVE INVESTMENT VEHICLES
PART 8B.3
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CORPORATE GOVERNANCE OF CCIVs
Division 1
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Governance rules
Subdivision C
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Minimum content requirements for the constitution of a CCIV
SECTION 1223H
RETAIL CCIV
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ADDITIONAL CONTENT REQUIREMENT FOR REDEMPTION OF SHARES
1223H(1)
This section applies if all or some of the shares in a retail CCIV are redeemable shares or redeemable preference shares.
1223H(2)
The CCIV ' s constitution must make provision for the shares to be redeemed. The provision must: (a) specify a period within which a redemption must ordinarily be satisfied while section 1230H (about when a sub-fund is liquid) applies to the sub-fund to which the share is referable; and (b) be fair and reasonable to the members of the sub-fund to which the share is referable; and (c) set out a price, or a method for determining a price, at which shares in the CCIV are to be redeemed if, at the time of the redemption, section 1230H (about when a sub-fund is liquid) applies to the sub-fund to which the shares are referable.
View history note
Hide history noteCCH Note: Division 1 is modified by the ASIC Corporations (Chapter 5C - Miscellaneous Provisions) Instrument 2017/125.
CCH Note: Subdivision C is modified by the ASIC Corporations (Chapter 5C - Miscellaneous Provisions) Instrument 2017/125.
CCH Note: Section 1223H is modified by the ASIC Corporations (Chapter 5C - Miscellaneous Provisions) Instrument 2017/125.
This section applies if all or some of the shares in a retail CCIV are redeemable shares or redeemable preference shares.
1223H(2)
The CCIV ' s constitution must make provision for the shares to be redeemed. The provision must: (a) specify a period within which a redemption must ordinarily be satisfied while section 1230H (about when a sub-fund is liquid) applies to the sub-fund to which the share is referable; and (b) be fair and reasonable to the members of the sub-fund to which the share is referable; and (c) set out a price, or a method for determining a price, at which shares in the CCIV are to be redeemed if, at the time of the redemption, section 1230H (about when a sub-fund is liquid) applies to the sub-fund to which the shares are referable.
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