Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

CORPORATIONS ACT 2001 - SECT 1223H

Retail CCIV--Additional content requirement for redemption of shares

             (1)  This section applies if all or some of the shares in a retail CCIV are redeemable shares or redeemable preference shares.

             (2)  The CCIV's constitution must make provision for the shares to be redeemed. The provision must:

                     (a)  specify a period within which a redemption must ordinarily be satisfied while section 1230H (about when a sub-fund is liquid) applies to the sub-fund to which the share is referable; and

                     (b)  be fair and reasonable to the members of the sub-fund to which the share is referable; and

                     (c)  set out a price, or a method for determining a price, at which shares in the CCIV are to be redeemed if, at the time of the redemption, section 1230H (about when a sub-fund is liquid) applies to the sub-fund to which the shares are referable.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback