5D.2.07

Register of investments

Current

(1)

A licensed trustee company commits an offence if it does not maintain a register of investments for each common fund in accordance with subregulation (2).

Penalty: 500 penalty units.

(2)

The register must contain:

(a)

a record identifying each investment made by the common fund; and

(b)

details of amounts held to the credit of the common fund.

Note:

For other obligations relating to common funds: see section 601SCB of the Act.

(3)

A person commits an offence if the person is involved in a contravention of subregulation (1) by a licensed trustee company.

Penalty:

(a)

for an individual—50 penalty units; and

(b)

for a body corporate—500 penalty units.

This Act’s bill:Explanatory statement

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