Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 1241Q

  (1)   Despite subsection   1010A(1), Part   7.9 applies to securities in a CCIV.

Note:   This and other sections in this Part extend and modify how Part   7.9 applies for a CCIV. A consequence is that, for a CCIV, references outside of Part   7.9 to provisions of Part   7.9 become references to those provisions as they apply because of this Part.

  (2)   Despite subsection   1010B(1), Part   7.9 applies in relation to the issue of any security in a CCIV.

  (3)   If the corporate director of a CCIV is, apart from this subsection, a regulated person (within the meaning of Division   2 of Part   7.9) because it is the seller of a security in the CCIV, treat the CCIV as being the regulated person within the meaning of that Division instead of the corporate director.

Note 1:   The corporate director of the CCIV will continue to be a regulated person for any other case.

Note 2:   The CCIV will also be the regulated person for an issue of securities in the CCIV (see subsection   1241A(4) and section   1011B).

  (4)   If a reference in Part   7.9 to a seller of a financial product applies to the corporate director of a CCIV as the seller of a security in the CCIV, treat the reference as referring to the CCIV.

  (5)   Subsections   (3) and (4) apply despite subsection   1241A(2).

Note:   This subsection confirms that the general rule in subsection   1241A(2) does not affect subsections   (3) and (4) of this section.