Commonwealth Consolidated Acts

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What is a sub - fund of a CCIV

  (1)   A sub - fund of a CCIV is all or part of the business of the CCIV that is registered as a sub - fund under section   1222S.

Note:   A sub - fund of a CCIV may be registered as a passport fund: see Part   8A.3.

  (2)   A sub - fund does not have legal personality.

  (3)   A person is a member of a sub - fund of a CCIV if the person:

  (a)   is a member of the CCIV; and

  (b)   holds one or more shares that are referable to the sub - fund.

Note:   For when a share is referable to a sub - fund, see section   1230.

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