Recent subtle changes to the CCIV regime framework.
- February 5, 2023
- Posted by: Paul Niederer
- Category: CCIV
Over the past few months, there has been some fine-tuning of the CCIV Regulatory Framework.
Here is an overview and links to the changes.
- The word “officer” in relation to the CCIV means a director, receiver liquidator or trustee. LINK.
- The registration of a CCIV cannot be transferred. LINK.
- Compulsory acquisition is only for listed CCIVs. LINK.
- The hawking of securities in a CCIV is prohibited. Meaning no hawking to retail clients. But OK to existing CCIV investors and by listed CCIVs with the right AFSL process. LINK.
- The controller of property may inspect the CCIV books at any reasonable time. LINK.
- Half-year financial reports and directors’ reports for sub-funds with ED securities on issue. LINK.
- A CCIV must not acquire shares (or units of shares) in itself except in buying back shares under section 1231C; or under a court order; or in circumstances covered by section 1230Q (about cross-investment). LINK.
- Applying arrangements and reconstruction provisions to sub-funds LINK.
- About the retail CCIVs constitution and what it must do. LINK.
- The Corporate Director MUST operate the business of the CCIV LINK.
- Retail CCIV–limitation on the right of a corporate director to acquire shares in CCIV LINK.
- Disclosures qualifying for whistleblower protection LINK.
- What is a sub-fund of a CCIV LINK.
- A CCIV has no secretary and no employees LINK.
- Statutory demand–creditor may serve demand on CCIV LINK.
- References to liabilities of a CCIV LINK.
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