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)   [ Pooling of estate money]  

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)   [ " common fund " ]  

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)   [ Other money]  

A common fund may also include other money.

601SCA(4)   [ Regulations]  

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.


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