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.


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.