Section 1241V — Corporations Act 2001 (Cth)

(1) Section 1015B also applies as if:

(a) a reference in that section to a managed investment product included a reference to a security in a CCIV; and

(b) paragraph 1015B(1)(ba) were not enacted; and

(c) an extra paragraph of subsection 1015B(1) provided that the financial product is a security that:

(i) is in a CCIV; and

(ii) is referable to a sub‑fund of the CCIV that is an Australian passport fund.

(2) When section 1015B so applies, treat subsection 1015B(2) as instead providing that the lodgement with ASIC of a Statement in relation to a security in the CCIV requires the consent of every director of the corporate director of the CCIV.

Note: This is the case whether the Statement is an issue Statement or a sale Statement.

Related sections

• s 1241S — Product Disclosure Statements—situations when not required for CCIVs
• s 1241T — Product Disclosure Statements—content requirements
• s 1241U — Product Disclosure Statements—replacement statements
• s 1241W — Product Disclosure Statements—use of application forms
• s 1241X — Product Disclosure Statements—if lodged, then security not to be issued or sold before specified period
• s 1241Y — Remedies for person acquiring financial product under defective Product Disclosure Document

Research how courts apply s 1241V

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