Recent subtle changes to the CCIV regime framework.

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.