Section 601FG — Corporations Act 2001 (Cth)

(1) The responsible entity of a registered scheme may acquire and hold an interest in the scheme, but it must only do so:

(a) for not less than the consideration that would be payable if the interest were acquired by another person; and

(b) subject to terms and conditions that would not disadvantage other members.

Note: If the responsible entity holds an interest in the scheme, it does so subject to section 253E (certain members cannot vote or be counted).

(2) A responsible entity who contravenes subsection (1), and any person who is involved in a responsible entity’s contravention of that subsection, contravenes this subsection.

Note 1: Section 79 defines involved.

Note 2: Subsection (2) is a civil penalty provision (see section 1317E).

(3) A person must not intentionally be involved in a responsible entity’s contravention of subsection (1).

Related sections

• s 601FD — Duties of officers of responsible entity
• s 601FE — Duties of employees of responsible entity
• s 601FF — Surveillance checks by ASIC
• s 601FH — Liquidator etc. of responsible entity entitled to exercise indemnity rights
• s 601FJ — Changes only take effect when ASIC alters record of registration
• s 601FK — Requirements of section 601FA must be met

Research how courts apply s 601FG

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