Commonwealth Consolidated Acts

CORPORATE COLLECTIVE INVESTMENT VEHICLE FRAMEWORK AND OTHER MEASURES ACT 2022 - SCHEDULE 2

Corporations Act 2001

1   Section   9 (definition of affairs )

Repeal the definition, substitute:

"affairs" :

  (a)   in relation to a body corporate (other than a CCIV)--has, in the provisions referred to in section   53, a meaning affected by that section; and

  (b)   in relation to a body corporate that is a CCIV--has, in the provisions referred to in section   53AAA, a meaning affected by that section.

2   Section   9

Insert:

"ARFN" (short for Australian Registered Fund Number) is the number given by ASIC to a sub - fund of a CCIV on registration of the sub - fund (see subsection   1222S(3)).

3   Section   9 (definition of assets )

Repeal the definition, substitute:

"assets" :

  (a)   in relation to a financial services licensee--means all the licensee's assets (whether or not used in connection with the licensee's Australian financial services licence); and

  (b)   in relation to a sub - fund of a CCIV--has the meaning given by section   1233H.

4   Section   9 (definition of Australian passport fund )

Repeal the definition, substitute:

"Australian passport fund" means:

  (a)   a registered scheme that is registered as a passport fund under Part   8A.3; or

  (b)   a sub - fund of a retail CCIV that is registered as a passport fund under Part   8A.3.

5   Section   9

Insert:

"CCIV" : see corporate collective investment vehicle .

6   Section   9 (after paragraph   (a) of the definition of Chapter   5 body corporate )

Insert:

  (aa)   that is a CCIV of which one or more sub - funds is being wound up; or

7   Section   9 (definition of class )

Repeal the definition, substitute:

"class" has:

  (a)   in relation to shares in a CCIV--a meaning affected by sections   57 and 1230A; and

  (b)   in relation to shares (other than shares in a CCIV) or interests in a managed investment scheme--a meaning affected by section   57; and

  (c)   when used in relation to securities for the purposes of Chapter   6, 6A or 6C--a meaning affected by subsection   605(2).

8   Section   9 (at the end of the definition of contributory )

Add:

  ; and (d)   in relation to a sub - fund of a CCIV--a person who is a contributory of the CCIV under paragraph   (a), if the person is liable as mentioned in subparagraph   (a)(i) as a member or past member of the sub - fund, or is a holder of shares referable to the sub - fund.

9   Section   9

Insert:

"corporate collective investment vehicle" or CCIV means a company that is registered as a corporate collective investment vehicle under this Act.

"corporate director" of a CCIV has the meaning given by subsection   1224(3).

"creditor" of a sub - fund of a CCIV means a creditor of the CCIV, if the debt or claim is, to any extent, a liability of the sub - fund.

10   Section   9 (definition of entity )

Omit "and 8A", substitute ", 8A and 8B,".

11   Section   9 (paragraph   (a) of the definition of expectation )

After "managed investment scheme", insert "or a sub - fund of a CCIV".

12   Section   9 (definition of extraordinary resolution )

After "registered scheme", insert ", a CCIV or a sub - fund of a CCIV".

13   Section   9 (definition of financial benefit )

Omit "Chapter   2E", substitute "Chapters   2E and 8B".

14   Section   9 (definition of insolvent )

Repeal the definition, substitute:

"insolvent" :

  (a)   in relation to a person--has the meaning given by subsection   95A(2); and

  (b)   in relation to a sub - fund of a CCIV--has the meaning given by subsection   1231A(3).

15   Section   9

Insert:

"liabilities" , in relation to a sub - fund of a CCIV, has the meaning given by section   1233L.

16   Section   9 (definition of listed )

Repeal the definition, substitute:

"listed" :

  (a)   a company, managed investment scheme or other body is listed if it is included in the official list of a prescribed financial market operated in this jurisdiction; and

  (b)   a retail CCIV that is not listed because of paragraph   (a) is listed if:

  (i)   the retail CCIV has only one sub - fund; and

  (ii)   that sub - fund is included in the official list of a prescribed financial market operated in this jurisdiction; and

  (c)   a sub - fund of a retail CCIV is listed if:

  (i)   the sub - fund is included in the official list of a prescribed financial market operated in this jurisdiction; or

  (ii)   the retail CCIV is listed because of paragraph   (a).

17   Section   9 (before paragraph   (e) of the definition of member )

Insert:

  (c)   in relation to a sub - fund of a CCIV--means a person who is a member under subsection   1222Q(3); or

18   Section   9 (definition of officer of a corporation)

After "of a corporation" (first occurring), insert "(other than a CCIV)".

19   Section   9

Insert:

"officer" of a corporation that is a CCIV has the meaning given by section   1224B.

20   Section   9 (at the end of the definition of professional investor )

Add:

Note:   A CCIV can also be a professional investor, see section   1241K.

21   Section   9 (definition of public company )

After "a proprietary company", insert "or a CCIV".

22   Section   9

Insert:

"redeemable share" , in a CCIV, has the meaning given by subsection   1230B(4).

"referable" :

  (a)   in relation to a sub - fund, and a share in a CCIV--has the meaning given by subsection   1230(1); and

  (b)   in relation to a sub - fund, and a class of shares in a CCIV--has the meaning given by subsection   1230A(2); and

  (c)   in relation to a sub - fund, and a debenture issued by a CCIV--has the meaning given by subsection   1231N(1).

23   Section   9 (definition of registered office )

Omit "in relation to a body corporate, means the body's registered office", substitute "in relation to a company or registered body, means the registered office of the company or body".

24   Section   9 (paragraph   (a) of the definition of related party )

Repeal the paragraph, substitute:

  (a)   when used in Chapter   2E (other than in relation to a CCIV) has the meaning given by section   228; and

  (aa)   when used in Chapters   2E and 8B, in relation to a CCIV, has the meaning given by section   1227E; and

25   Section   9

Insert:

"retail CCIV" has the meaning given by subsection   1222J(1).

26   Section   9 (definition of solvent )

Repeal the definition, substitute:

"solvent" :

  (a)   in relation to a person--has the meaning given by subsection   95A(1); and

  (b)   in relation to a sub - fund of a CCIV--has the meaning given by subsection   1231A(2).

27   Section   9 (paragraph   (b) of the definition of special resolution )

After "registered scheme", insert ", a CCIV or a sub - fund of a CCIV".

28   Section   9

Insert:

"sub-fund" , of a CCIV, has the meaning given by subsection   1222Q(1).

"wholesale CCIV" has the meaning given by subsection   1222J(2).

29   Section   51E (definition of secured creditor )

Repeal the definition, substitute:

"secured creditor" :

  (a)   of a corporation means a creditor of the corporation, if the debt owing to the creditor is secured by a security interest; and

  (b)   of a sub - fund of a CCIV means a secured creditor of the CCIV, if the debt owing to the creditor is, to any extent, a liability of the sub - fund.

30   At the end of section   51F

Add:

References to property of a sub - fund of a CCIV

  (3)   A reference in a provision of this Act to property of a sub - fund of a CCIV (including a substituted reference provided for by Part   8B.6) is a reference to something that is:

  (a)   property of the CCIV (within the meaning of the provision); and

  (b)   an asset of the sub - fund of the CCIV.

Note:   For assets of a sub - fund of a CCIV, see section   1233H.

31   Section   53 (heading)

Repeal the heading, substitute:

53   Affairs of a body corporate (other than a CCIV)

32   Section   53

After "body corporate" (first occurring), insert "(other than a CCIV)".

33   After section   53

Insert:

53AAA   Affairs of a CCIV

  (1)   For the purposes of the provisions referred to in subsection   (3), the affairs of a body corporate that is a CCIV include anything that would be included in the affairs of a body corporate under section   53.

  (2)   In applying paragraph   53(d) to the CCIV:

  (a)   disregard subparagraphs   (ii) and (iia); and

  (b)   treat the reference in subparagraph   (iv) to the body as instead being a reference to a sub - fund of the CCIV; and

  (c)   treat the reference to a liquidator or provisional liquidator of the body as instead being a reference to a liquidator or provisional liquidator of a sub - fund of the CCIV.

  (3)   The provisions for subsection   (1) are the following:

  (a)   a provision referred to in section   53;

  (b)   a provision prescribed for the purposes of section   53;

  (c)   section   1222 (about requirements for registration as a CCIV);

  (d)   section   1224F (about who can be the director of a CCIV);

  (e)   section   1224J (about corporate director must operate the CCIV);

  (f)   section   1237V (about Court order imposing liability on unlicensed person operating CCIV);

  (g)   section   1241C (about extra kinds of financial services relating to CCIVs);

  (h)   section   1241E (about when conduct does not constitute providing a custodial or depository service in relation to a CCIV);

  (i)   section   1241F (about Australian financial services licences to conduct the affairs of a CCIV);

  (j)   section   1241L (about financial services disclosure does not apply to conducting the affairs of CCIVs);

  (k)   a provision of this Act prescribed by the regulations for the purposes of this paragraph.

34   Paragraph   53AA(a)

After "53", insert "or 53AAA".

35   At the end of subsection   57(1)

Add:

Note:   A CCIV must have a minimum of one class of shares per sub - fund: see section   1230A.

36   Section   64A

Omit "and 8A", substitute ", 8A and 8B".

37   At the end of subsection   92(4)

Add:

Note:   However, in Chapter   6D, securities does not include securities in a CCIV: see section   1240G.

38   At the end of section   111AF

Add:

  (3)   Securities (except debentures) in a class of securities of a CCIV are ED securities if 100 or more people hold securities in that class as a result of offers that gave rise to obligations to give Product Disclosure Statements (whether or not all in the same terms) under Chapter   7 (as that Chapter applies to those securities under Division   4 of Part   8B.7).

39   At the end of subsection   111AR(1)

Add:

  ; (e)   Division   4 of Part   8B.4 as it applies to disclosing entities;

  (f)   Division   2 of Part   8B.7 as it applies to disclosing entities.

40   Subsection   117(1) (note)

Omit "Note", substitute "Note 1".

41   At the end of subsection   117(1)

Add:

Note 2:   For modifications applicable to applications to register a CCIV, see section   1222A.

42   Subsection   118(1) (note)

Omit "Note", substitute "Note 1".

43   At the end of subsection   118(1)

Add:

Note 2:   For modifications applicable to applications to register a CCIV, see section   1222C.

44   At the end of subsection   120(1)

Add:

Note:   For the equivalent provision for a CCIV, see section   1222D.

45   Subsection   124(1) (note)

Omit "Note", substitute "Note 1".

46   At the end of subsection   124(1)

Add:

Note 2:   A CCIV's power to issue shares is affected by sections   1230 and 1230B.

47   At the end of subsection   127(1)

Add:

Note 3:   Because a CCIV has no natural person directors and no company secretary, it executes documents through the directors and company secretary of its corporate director: see section   1223.

48   Subsection   127(2) (note)

Omit "Note", substitute "Note 1".

49   At the end of subsection   127(2)

Add:

Note 2:   Because a CCIV has no natural person directors and no company secretary, it executes documents through the directors and company secretary of its corporate director: see section   1223.

50   At the end of subsection   135(1)

Add:

Note 3:   Paragraph   (a) does not apply for CCIVs: see section   1223A.

51   Subsection   136(1) (note)

Omit "Note", substitute "Note 1".

52   At the end of subsection   136(1)

Add:

Note 2:   Section   1223B applies instead of this section in relation to the constitution of a CCIV (see also subsection   1223D(6)).

53   At the end of subsection   169(3)

Add:

Note 3:   A CCIV's register must also show the sub - funds relevant to each share: see subsection   1222ZB(1).

54   At the end of subsection   170(1)

Add:

Note:   A CCIV's register must also show the sub - funds relevant to each share or option: see subsection   1222ZB(2).

55   Subsection   171(1) (note)

Omit "Note", substitute "Note 1".

56   At the end of subsection   171(1)

Add:

Note 2:   A CCIV's register must also show the sub - funds relevant to each debenture: see subsection   1222ZB(3).

57   At the end of subsection   179(1)

Add:

Note:   For a CCIV, there are additional duties: see Divisions   2 and 3 of Part   8B.3.

58   Division   1 of Part   2D.1 (after the heading)

Insert:

Note:   This Division applies in relation to CCIVs in a modified form: see sections   1224C.

59   At the end of subsection   188(1)

Add:

Note 3:   This subsection has an extended operation in relation to the secretary of a corporate director of a CCIV: see sections   1225A and 1225B.

60   Division   2 of Part   2D.1 (after the heading)

Insert:

Note:   This Division applies in relation to CCIVs in a modified form: see sections   1225C and 1224K.

61   Subsection   198D(1) (note)

Omit "Note", substitute "Note 1".

62   At the end of subsection   198D(1)

Add:

Note 2:   If the company is a CCIV, section   1224L applies instead of this section.

63   Subsection   198F(1) (note)

Omit "Note", substitute "Note 1".

64   At the end of subsection   198F(1)

Add:

Note 2:   This section also applies to a director of a corporate director of a CCIV: see section   1225D.

65   At the end of subsection   198G(1)

Add:

Note:   For a CCIV, section   1224Q applies instead of this section.

66   At the end of subsection   199A(1)

Add:

Note:   This section is modified for the director of a wholesale CCIV: see subsection   1224D(7). This section has an extended operation in relation to officers and auditors of the corporate director of a CCIV: see section   1225E.

67   At the end of subsection   199B(1)

Add:

Note:   This section has an extended operation in relation to officers and auditors of the corporate director of a CCIV: see section   1225E.

68   At the end of subsection   200B(1)

Add:

Note 4:   This section has a modified operation in relation to CCIVs: see section   1224ZD.

69   At the end of subsection   200C(1)

Add:

Note:   This section has a modified operation in relation to CCIVs: see section   1224ZD.

70   Part   2D.3 (after the heading)

Insert:

Note:   This Part does not apply to a CCIV: see section   1224E.

71   Part   2D.4 (after the heading)

Insert:

Note:   This Part does not apply to a CCIV: see section   1224E.

72   Part   2D.5 (after the heading)

Insert:

Note:   This Part does not apply to a CCIV: see section   1224E.

73   Part   2D.6 (after the heading)

Insert:

Note:   This Part does not apply to a CCIV: see section   1224E.

74   Part   2D.7 (after the heading)

Insert:

Note:   This Part does not apply to a CCIV: see section   1224E.

75   Part   2D.8 (after the heading)

Insert:

Note:   This Part does not apply to a CCIV: see section   1224E.

76   Chapter   2E (after the heading)

Insert:

Note:   This Chapter applies to a CCIV with modifications: see Division   5 of Part   8B.3.

77   At the end of subsection   208(1)

Add:

Note 3:   This section applies to a CCIV in a modified form: see section   1227A.

78   At the end of subsection   209(2)

Add:

Note 3:   This section has an extended operation in relation to a retail CCIV: see section   1227A.

79   Section   232 (note)

Repeal the note, substitute:

Note 1:   For affairs , see sections   53 and 53AAA.

Note 2:   The effect of paragraph   (d) is extended in relation to a sub - fund of a CCIV: see section   1227F.

80   At the end of subsection   233(1)

Add:

Note:   If the company is a CCIV there are modifications for paragraphs   (1)(a) and (h) (see section   1227G and Part   8B.6).

81   At the end of subsection   233(3)

Add:

Note:   If the company is a CCIV the reference to section   136 is modified (see subsection   1227G(2)).

82   Subsection   237(4) (note)

Omit "Note", substitute "Note 1".

83   At the end of subsection   237(4)

Add:

Note 2:   For who is a third party of a CCIV, see section   1227H.

84   At the end of subsection   246B(1)

Add:

Note:   A CCIV must have a minimum of 1 class of shares per sub - fund: see section   1230A.

85   At the end of subsection   246B(2)

Add:

Note:   This subsection applies to a CCIV in a modified form: see section   1227J.

86   At the end of subsection   246F(3)

Add:

Note:   This subsection also applies to a CCIV: see section   1227L.

87   Part   2G.1 (after the heading)

Insert:

Note:   Section   1228 applies instead of this Part   in relation to a CCIV.

88   Part   2G.2 (after the heading)

Insert:

Note:   This Part does not apply to a CCIV or its members. Instead, section   1228A applies a modified version of Part   2G.4.

89   Part   2G.3 (after the heading)

Insert:

Note:   This Part does not apply to a CCIV or its members. Instead, section   1228A applies a modified version of Part   2G.4.

90   Part   2G.4 (after the heading)

Insert:

Note:   Section   1228A applies a modified version of this Part   in relation to a CCIV. Section   1228B applies a modified version of this Part   in relation to a sub - fund of a CCIV.

91   At the end of subsection   254B(1)

Add:

Note 5:   A CCIV may issue a share only if the share is referable to a sub - fund of the CCIV (see section   1230).

92   Subsection   254G(1) (note)

Omit "Note", substitute "Note 1".

93   At the end of subsection   254G(1)

Add:

Note 2:   Section   1230C applies to a CCIV instead of this section.

94   Subsection   254H(1) (note)

Omit "Note", substitute "Note 1".

95   At the end of subsection   254H(1)

Add:

Note 2:   Section   1230C applies to a CCIV instead of this section.

96   Part   2H.2 (after the heading)

Insert:

Note:   This Part does not apply to a CCIV: see section   1230D.

97   At the end of subsection   254N(1)

Add:

Note:   This section does not apply to a CCIV: see section   1230L.

98   At the end of subsection   254T(1)

Add:

Note 3:   Section   1230M applies to a CCIV instead of this section.

99   At the end of subsection   254W(1)

Add:

Note:   Section   1230N is about dividend rights in a CCIV.

100   Part   2H.6 (after the heading)

Insert:

Note:   This Part does not apply to a CCIV: see section   1230P.

101   Chapter   2J (after the heading)

Insert:

Note:   This Chapter is modified for CCIVs: see Division   2 of Part   8B.4.

102   Division   1 of Part   2J.1 (after the heading)

Insert:

Note:   This Division does not apply to a CCIV: see subsection   1231A(5).

103   Division   2 of Part   2J.1 (after the heading)

Insert:

Note:   This Division does not apply to a CCIV: see subsection   1231C(6).

104   Division   3 of Part   2J.1 (after the heading)

Insert:

Note:   This Division applies to a CCIV with modifications: see section   1231H.

105   Part   2J.2 (after the heading)

Insert:

Note:   This Part applies to a CCIV with modifications: see sections   1231J and 1231K.

106   Subsection   259B(1) (note)

Omit "Note", substitute "Note 1".

107   At the end of subsection   259B(1)

Add:

Note 2:   Subsection   (3) does not apply to a CCIV: see section   1231K.

108   Part   2J.3 (after the heading)

Insert:

Note:   This Part does not apply to a CCIV: see section   1231L.

109   Part   2M.1 (after the heading)

Insert:

Note:   This Chapter applies to CCIVs with modifications: see Division   4 of Part   8B.4.

110   Subsection   286(1) (note)

Repeal the note, substitute:

Note 1:   Section   9 defines financial records .

Note 2:   Section   1232A extends this section to keeping financial records for sub - funds of retail and wholesale CCIVs, and applies this Part accordingly.

111   At the end of subsection   290(1)

Add:

Note:   Section   1232B extends this section to the directors of the corporate director of a retail or wholesale CCIV.

112   Division   1 of Part   2M.3 (after the heading)

Insert:

Note:   This Division applies to retail CCIVs with modifications: see Subdivision C of Division   4 of Part   8B.4.

113   Subsection   292(1) (note)

Repeal the note, substitute:

Note 1:   This Chapter only applies to disclosing entities incorporated or formed in Australia (see subsection   285(2)).

Note 2:   Section   1232C extends this section to preparing annual financial reports and directors' reports for sub - funds of retail CCIVs, and applies this Division accordingly.

114   At the end of subsection   295(5)

Add:

Note:   Section   1228 deals with directors' resolutions for CCIVs.

115   At the end of subsection   298(2)

Add:

Note:   Section   1228 deals with directors' resolutions for CCIVs.

116   At the end of subsection   300(1)

Add:

Note:   This section applies to sub - funds of retail CCIVs in a modified form: see section   1232E.

117   At the end of subsection   300(13)

Add:

Note:   This subsection applies to sub - funds of retail CCIVs in a modified form: see section   1232E.

118   At the end of section   302

Add:

Note 4:   Section   1232F extends this section to preparing half - year financial reports and directors' reports for sub - funds of retail CCIVs (if there are ED securities referable to the sub - fund), and applies this Division accordingly.

119   At the end of subsection   303(5)

Add:

Note:   Section   1228 deals with directors' resolutions for CCIVs.

120   At the end of subsection   306(1)

Add:

Note:   This subsection applies to sub - funds of retail CCIVs in a modified form: see subsection   1232F(6).

121   At the end of subsection   306(3)

Add:

Note:   Section   1228 deals with directors' resolutions for CCIVs.

122   Division   3 of Part   2M.3 (after the heading)

Insert:

Note:   This Division applies to sub - funds of retail CCIVs in a modified form: see section   1232G.

123   At the end of section   307

Add:

Note:   This section applies to sub - funds of retail CCIVs in a modified form: see section   1232G.

124   At the end of subsection   311(4)

Add:

Note:   This subsection applies to sub - funds of retail CCIVs in a modified form: see section   1232G.

125   Division   4 of Part   2M.3 (after the heading)

Insert:

Note:   This Division applies to reports relating to sub - funds of retail CCIVs in a modified form: see section   1232H.

126   At the end of subsection   314(1)

Add:

Note:   This section applies to sub - funds of retail CCIVs in a modified form: see section   1232H.

127   At the end of subsection   315(3)

Add:

Note:   Section   1232J applies this subsection to retail CCIVs in relation to their sub - funds.

128   At the end of subsection   317(1)

Add:

Note 4:   This section does not apply to retail CCIVs: see section   1232K.

129   At the end of subsection   318(1)

Add:

Note:   This section applies to sub - funds of retail CCIVs in a modified form: see section   1232L.

130   Subsection   322(3) (note)

Omit "Note", substitute "Note 1".

131   At the end of subsection   322(3)

Add:

Note 2:   This section applies to sub - funds of retail CCIVs in a modified form: see section   1232M.

132   At the end of subsection   324CD(2) (after the table)

Add:

Note:   This subsection applies in relation to retail CCIVs in a modified form: see section   1232N.

133   Subdivision B of Division   3 of Part   2M.4 (after the heading)

Insert:

Note:   This Subdivision applies in relation to retail CCIVs in a modified form: see section   1232P.

134   At the end of subsection   324CL(1)

Add:

Note:   This section applies in relation to retail CCIVs in a modified form: see section   1232Q.

135   Division   6 of Part   2M.4 (after the heading)

Insert:

Note:   This Division does not apply in relation to a CCIV. Instead, section   1232R applies a modified version of Division   7 to a retail CCIV.

136   Division   7 of Part   2M.4 (after the heading)

Insert:

Note:   Section   1232R applies a modified version of this Division in relation to a retail CCIV.

137   Subsection   344(1) (note)

Omit "Note", substitute "Note 1".

138   At the end of subsection   344(1)

Add:

Note 2:   This subsection has an extended operation in relation to a retail CCIV: see section   1232T.

139   At the end of subsection   344(2)

Add:

Note:   This subsection has an extended operation in relation to a retail CCIV: see section   1232T.

140   Part   2N.3 (after the heading)

Insert:

Note:   This Part does not apply to CCIVs: see subsection   1232U(1).

141   At the end of subsection   348C(1)

Add:

Note:   This section does not apply to CCIVs: see subsection   1232U(2).

142   Part   5.1 (after the heading)

Insert:

Note:   This Part applies to CCIVs with modifications: see Division   2 of Part   8B.6.

143   Part   5.2 (after the heading)

Insert:

Note:   This Part applies to CCIVs with modifications: see Division   3 of Part   8B.6.

144   Part   5.3A (after the heading)

Insert:

Note:   This Part does not apply to a CCIV or a sub - fund of a CCIV: see Division   4 of Part   8B.6.

145   Part   5.3B (after the heading)

Insert:

Note:   This Part does not apply to a CCIV or a sub - fund of a CCIV: see Division   4 of Part   8B.6.

146   Part   5.4 (after the heading)

Insert:

Note:   This Part applies to a sub - fund of a CCIV in a modified form: see Division   5 of Part   8B.6.

147   Part   5.4A (after the heading)

Insert:

Note:   This Part applies to a sub - fund of a CCIV in a modified form: see Division   5 of Part   8B.6.

148   Part   5.4B (after the heading)

Insert:

Note:   This Part applies to a sub - fund of a CCIV in a modified form: see Division   5 of Part   8B.6.

149   Part   5.4C (after the heading)

Insert:

Note:   This Part does not apply to a CCIV or a sub - fund of a CCIV: see Division   5 of Part   8B.6.

150   Part   5.5 (after the heading)

Insert:

Note:   This Part applies to a sub - fund of a CCIV in a modified form: see Division   5 of Part   8B.6.

151   Part   5.6 (after the heading)

Insert:

Note:   This Part applies to a sub - fund of a CCIV in a modified form: see Division   5 of Part   8B.6.

152   At the end of subsection   530C(1)

Add:

Note:   This section applies to a CCIV in a modified form: see section   1237Z.

153   Part   5.7B (after the heading)

Insert:

Note:   This Part applies to a sub - fund of a CCIV in a modified form: see Division   3 of Part   8B.6 (for provisions relating to Division   2B), Division   5 of Part   8B.6 (for provisions relating to Divisions   2 and 2A) and Division   6 of Part   8B.6 (for provisions relating to Divisions   3, 4, 5 and 6).

154   Part   5.8 (after the heading)

Insert:

Note:   This Part applies to a sub - fund of a CCIV in a modified form: see Division   7 of Part   8B.6.

155   At the end of subsection   596(1)

Add:

Note:   This section applies to a CCIV in a modified form: see section   1238F.

156   Part   5.9 (after the heading)

Insert:

Note:   This Part applies to a sub - fund of a CCIV in a modified form: see Division   8 of Part   8B.6.

157   At the end of section   596A

Add:

Note:   This section applies to a CCIV in a modified form: see section   1237U.

158   Part   5A.1 (after the heading)

Insert:

Note 1:   This Part applies to the deregistration of CCIVs with modifications: see Subdivision A of Division   9 of Part   8B.6.

Note 2:   For the deregistration of sub - funds of CCIVs, see Subdivision A of Division   9 of Part   8B.6.

159   Part   5A.2 (after the heading)

Insert:

Note:   This Part does not apply to a CCIV or a sub - fund of a CCIV: see Subdivision B of Division   9 of Part   8B.6.

160   Chapter   6 (after the heading)

Insert:

Note:   This Chapter only applies to acquisitions of interests in a CCIV if the CCIV is a listed company: see Division   1 of Part   8B.7.

161   Section   660A (note)

Omit "Note", substitute "Note 1".

162   At the end of section   660A

Add:

Note 2:   This Chapter only applies to the acquisition of securities in a CCIV if the CCIV is a listed company: see section   1240E.

163   At the end of subsection   675(2)

Add:

Note 5:   Subsection   (2) has a modified operation in relation to securities in a CCIV: see section   1240F.

164   At the end of subsection   700(1)

Add:

Note:   In this Chapter, subject to subsection   1240H(6), securities also does not include a security in a CCIV: see section   1240G.

165   Chapter   7 (after the heading)

Insert:

Note:   This Chapter applies to a CCIV in a modified form: see Division   4 of Part   8B.7.

166   Section   761A (paragraph   (a) of the definition of financial services law )

Omit "or 8A", substitute ", 8A or 8B".

167   After paragraph   766A(1)(d)

Insert:

  (da)   operate the business and conduct the affairs of a CCIV; or

168   Paragraph   766C(4)(c)

After "body corporate", insert "(other than a CCIV)".

169   After paragraph   766C(4)(c)

Insert:

  (ca)   a CCIV;

170   Subsection   1212(1)

Repeal the subsection, substitute:

  (1)   A person may lodge an application with ASIC to have a scheme or sub - fund in an item in column 1 of the following table (a collective investment fund ) registered as a passport fund if the person is the entity mentioned in the corresponding item in column 2 of the table (the proposed operator of the fund).

171   Paragraph   1212(2)(b)

Omit "responsible entity for the scheme", substitute "proposed operator of the collective investment fund".

172   Subparagraph   1212(2)(b)(i)

Omit "responsible entity", substitute "proposed operator".

173   Subparagraph   1212(2)(b)(ii)

Omit "scheme", substitute "fund".

174   Subsection   1212(3)

Omit "scheme is registered as an Australian", substitute "fund is registered as a".

175   Section   1212A (heading)

Repeal the heading, substitute:

1212A   Registration of Australian passport funds

176   Subsection   1212A(1)

Omit "a registered scheme", substitute "a collective investment fund that is a registered scheme or a sub - fund of a retail CCIV".

177   Paragraph   1212A(1)(a)

Omit "responsible entity for the scheme", substitute "proposed operator of the fund".

178   Paragraph   1212A(1)(b)

Omit "scheme", substitute "fund".

179   Subsection   1212A(2)

Omit "A registered scheme", substitute "A collective investment fund".

180   Section   1212B

Omit "registered scheme", substitute "collective investment fund".

181   Section   1212B

Omit "scheme's", substitute "fund's".

182   Subsection   1213B(3)

After "managed investment schemes", insert ", or CCIVs,".

183   At the end of subsection   1272B(1)

Add:

Note:   This subsection has a modified operation in relation to CCIVs: see section   1242.

184   At the end of subsection   1274(2)

Add:

Note:   This subsection applies in relation to CCIVs with modifications: see section   1242A.

185   At the end of subsection   1300(2A)

Add:

Note:   This section applies to a CCIV as if the CCIV were a proprietary company: see section   1242B.

186   At the end of subsection   1307(1)

Add:

Note:   This subsection applies in relation to CCIVs with modifications: see section   1242C.

187   At the end of subsections   1309(1) and (2)

Add:

Note:   This subsection applies in relation to CCIVs with modifications: see section   1242D.

188   At the end of subsections   1309(9) and (10)

Add:

Note:   This subsection applies in relation to information given to CCIVs with modifications: see section   1242D.

189   Before paragraph   1311(1A)(e)

Insert:

  (de)   Chapter   8B;

190   At the end of subsection   1317(1)

Add:

Note:   This section applies in relation to a defendant who is a CCIV with modifications: see section   1242D.

191   Part   9.4AAA (after the heading)

Insert:

Note:   This Part applies in relation to CCIVs with modifications: see 1242E.

192   In the appropriate position in subsection   1317E(3)

Insert:

193   At the end of subsection   1322(1)

Add:

Note:   This section applies in relation to CCIVs with modifications: see section   1242F.

194   Sections   1324A and 1324B

Omit "or Part   7.10", substitute ", Part   7.10 or Chapter   8B".

195   Subsection   1325(7) (at the end of the definition of section   1325 order provision )

Add:

  ; and (j)   a provision of Chapter   8B.

196   At the end of section   1351

Add:

Note:   Subsection   (4) applies in relation to CCIVs with modifications: see section   1242G.

197   At the end of subsection   70 - 35(3) of Schedule   2

Add:

Note:   This subsection does not apply for a winding up of a sub - fund of a CCIV: see section   1237P.

198   At the end of subsection   70 - 35(4) of Schedule   2

Add:

Note:   This subsection does not apply for a winding up of a sub - fund of a CCIV: see section   1237P.

199   In the appropriate position in Schedule   3

Insert: