Financial Services Reform Act 2001 (122 of 2001)

Schedule 3   Other miscellaneous amendments

Part 1   Technical and other minor amendments

Corporations Act 2001

20A   At the end of section 610

Add:

When a designated body is a managed investment scheme

(5) For the purposes of the application of this section in relation to a designated body that is a managed investment scheme:

(a) a reference to voting shares in the designated body is taken to be a reference to voting interests in the scheme; and

(b) a reference to the election of directors of the designated body is taken to be a reference to:

(i) if the scheme is a registered scheme - the appointment of a responsible entity for the scheme; or

(ii) if the scheme is not a registered scheme - the appointment of a person to the office (by whatever name it is known) in relation to the scheme that corresponds most closely to the office of responsible entity of a registered scheme; and

(c) a reference to the designated body’s constitution is taken to be a reference to the scheme’s constitution.

Meaning of designated body

(6) In this section:

designated body means:

(a) a body; or

(b) a managed investment scheme.