What is a CCIV?
- July 1, 2022
- Posted by: Paul Niederer
- Category: CCIV
What is a CCIV? The simple answer is it is a new corporate form. The letters CCIV stand for Corporate Collective Investment Vehicle. To define it fully in a sentence is not easy. That is why the following bullet points fully outline What a CCIV is. If a sentence had to be written I suggest … A CCIV is a new corporate form, limited by shares that is used for funds management, complete with ring-fenced sub-funds, that is more acceptable to foreign investors and it doesn’t need an AFSL because it has a Corporate Director that already holds one.
What is a CCIV?
- a new type of company
- it has the legal form of a company limited by shares
- has the powers, rights, duties, and characteristics of a company;
- limited by shares that is used for funds management
- is a new corporate form that is an alternative investment vehicle to managed investment schemes,
- introduced by the Corporate Collective Investment Vehicle Framework and Other Measures Act 2022
- an investment vehicle with a corporate structure
- subject to the ordinary company rules under the Corporations Act.
- has a constitution and one sub-fund
- an umbrella vehicle that is comprised of one or more sub-funds and is operated by its single corporate director
- is a company that has a single corporate director, which must be a public company with an Australian financial services licence.
- is a long-awaited alternative to managed investment schemes (or MIS) for the Australian managed funds industry
- is a corporate form that familiarity of the ‘corporate’ fund structure to many foreign investors, will attract more offshore investment into Australian funds.
- can also enter into contracts in their own right and deal with their own company shares without the requirement to hold an AFS licence
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