Corporations Act 2001

CHAPTER 5C - MANAGED INVESTMENT SCHEMES  

PART 5C.2 - THE RESPONSIBLE ENTITY  

Division 3 - Consequences of change of responsible entity  

SECTION 601FT   EFFECT OF CHANGE OF RESPONSIBLE ENTITY ON DOCUMENTS ETC. TO WHICH FORMER RESPONSIBLE ENTITY IS PARTY  

601FT(1)   [ Documents, etc]  

If the responsible entity of a registered scheme changes, a document:


(a) to which the former responsible entity is a party, in which a reference is made to the former responsible entity, or under which the former responsible entity has acquired or incurred a right, obligation or liability, or might have acquired or incurred a right, obligation or liability if it had remained the responsible entity; and


(b) that is capable of having effect after the change;

has effect as if the new responsible entity (and not the former responsible entity) were a party to it, were referred to in it or had or might have acquired or incurred the right, obligation or liability under it.

601FT(2)   [ Right, obligation, etc, of former responsible entity]  

Subsection (1) does not apply to a right, obligation or liability that remains a right, obligation or liability of the former responsible entity because of subsection 601FS(2).


 

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