Construing terms and expressions affected by substituted references
Terms or expressions that have a particular meaning in relation to a sub‑fund (1) To avoid doubt, if: (a) a term or expression has a particular meaning in this Act in relation to a sub‑fund of a CCIV; and (b) the term or expression occurs in a provision, in relation to a reference (including an implied reference) that is required by this Part to be substituted with a reference to a sub‑fund; then the meaning the term or expression has in relation to the sub‑fund in the provision is the meaning referred to in paragraph (a). Note: Examples of terms or expressions that have a particular meaning in relation to a sub‑fund of a CCIV include the following: (a) contributory (see section 9); (b) creditor and secured creditor (see section 9); (c) deregister (see Division 9 of this Part); (d) extraordinary resolution (see section 9); (e) member (see section 1222Q); (f) property (see subsection 51F(3)); (g) solvent and insolvent (see section 1231A); (h) special resolution (see section 9). Terms or expressions that do not have a particular meaning in relation to a sub‑fund (2) If: (a) a term or expression has a particular meaning in this Act or in a provision of this Act in relation to a company, corporation or body corporate; and (b) because of a reference (including an implied reference) that is required by this Part to be substituted with a reference to a sub‑fund, it is necessary to determine the meaning of the term or expression in relation to a sub‑fund of a CCIV; and (c) the term or expression does not have a particular meaning in relation to a sub‑fund of a CCIV; then the meaning the term or expression has in relation to the sub‑fund is the meaning the term or expression would have in relation to the CCIV if the CCIV had no other sub‑funds. Note: For example, the term related entity is defined in section 9 in relation to a body corporate, and is not defined in relation to a sub‑fund of a CCIV. To determine whether a person is a related entity of a sub‑fund: (a) first, assume that the CCIV has no other sub‑funds (this includes disregarding any shares held by the CCIV that are assets of other sub‑funds of the CCIV); and (b) then, apply the definition of related entity in section 9 to the CCIV based on that assumption. As a result, a member of the CCIV (paragraph (d) of the definition of related entity) will only be a related entity of a sub‑fund of the CCIV if the person is a member of the sub‑fund.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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