Commonwealth Numbered Acts

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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 601FG

Acquisition of interest in scheme by responsible entity

The responsible entity of a registered scheme may acquire and hold an interest in the scheme, but it must only do so:

for not less than the consideration that would be payable if the interest were acquired by another person; and

subject to terms and conditions that would not disadvantage other members.

Note 1: If the responsible entity holds an interest in the scheme, it does so subject to section 253E (certain members cannot vote or be counted).

Note 2: This section is a civil penalty provision as defined in section 1317DA and Part 9.4B provides for civil and criminal consequences of contravening it.

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