Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteCCH Note: Division 6 is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716; the ASIC Corporations (Removing Barriers to Electronic Disclosure) Instrument 2015/649; the ASIC Corporations (Shorter PDS and Delivery of Accessible Financial Products Disclosure by Platform Operators and Superannuation Trustees) Instrument 2022/497; the ASIC Corporations (Investor Directed Portfolio Services Provided Through a Registered Managed Investment Scheme) Instrument 2023/668; the ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669; and the ASIC Corporations (Discretions for Setting the Issue Price and Withdrawal Price of Interests in Managed Investment Schemes) Instrument 2023/693.
CCH Note: Section 1020BAA is modified by the ASIC Corporations (Incidental Retail Cover) Instrument 2022/716; the ASIC Corporations (Removing Barriers to Electronic Disclosure) Instrument 2015/649; the ASIC Corporations (Shorter PDS and Delivery of Accessible Financial Products Disclosure by Platform Operators and Superannuation Trustees) Instrument 2022/497; the ASIC Corporations (Investor Directed Portfolio Services Provided Through a Registered Managed Investment Scheme) Instrument 2023/668; the ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669; and the ASIC Corporations (Discretions for Setting the Issue Price and Withdrawal Price of Interests in Managed Investment Schemes) Instrument 2023/693.
A person must not engage in conduct of a kind referred to in subsection (2) in relation to an interest in a foreign passport fund if the fund is not:
(a) a notified foreign passport fund; or
(b) a registered scheme.
This is so even if it is proposed that the fund will become a notified foreign passport fund or a registered scheme.
Note: Failure to comply with this subsection is an offence (see subsection 1311(1) ).
1020BAA(2)
Subject to subsection (3), the kinds of conduct that must not be engaged in in relation to an interest in such a foreign passport fund are as follows:
(a) making a recommendation, as described in subsection 1012A(3) , that is received in this jurisdiction;
(b) making an offer, as described in subsection 1012B(3) or 1012C(3) , that is received in this jurisdiction;
(c) accepting an offer, made as described in subsection 1012B(3) or (4), that was received in this jurisdiction.
1020BAA(3)
Subsection (2) does not apply to:
(a) a recommendation or offer made in a situation to which a subsection of section 1012D , other than subsection 1012D(1) , applies; or
(b) a recognised offer.
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