57
In forceClasses of shares or interests in managed investment schemes
Volume 1Chapter 1, Part 1.1 to Chapter 2J, Part 2J.4 sections 1 to 260E
Chapter 1Introductory
Part 1.2Interpretation
Division 7Meaning of some other expressions
57 Classes of shares or interests in managed investment schemes
(1)
The shares in a body corporate, if not divided into 2 or more classes, constitute a class.
Note:
A CCIV must have a minimum of one class of shares per sub‑fund: see section 1230A.
(2)
If the interests in a managed investment scheme to which an undertaking relates are not divided into 2 or more classes, they constitute a class.
This Act’s bill:Explanatory memorandumSecond reading speech
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