601NA
In forceWinding up required by scheme’s constitution
Volume 3Chapter 5A, Part 5A.1 to Chapter 6D, Part 6D.5 sections 601 to 742
Chapter 5CManaged investment schemes
Part 5C.9Winding up
601NA Winding up required by scheme’s constitution
The constitution of a registered scheme may provide that the scheme is to be wound up:
(a)
at a specified time; or
(b)
in specified circumstances or on the happening of a specified event;
but a provision of the constitution that purports to provide that the scheme is to be wound up if a particular company ceases to be its responsible entity is of no effect (including for the purposes of paragraph 601NE(1)(a)).
This Act’s bill:Explanatory memorandumSecond reading speech
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