A T O home
Legal Database
Search   
for 
 
Access the database 
Browse database
Searches  
View last document
Quick access 
View legislation
View a document
Email Cross Reference Material Previous/Next Section Contents Previous/Next Result
Printable version
Printable
version

CORPORATIONS ACT 2001

CHAPTER 5C - MANAGED INVESTMENT SCHEMES  

PART 5C.4 - THE COMPLIANCE PLAN  

SECTION 601HA  CONTENTS OF THE COMPLIANCE PLAN  

601HA(1)  [Contents]  


The compliance plan of a registered scheme must set out adequate measures that the responsible entity is to apply in operating the scheme to ensure compliance with this Act and the scheme's constitution, including the arrangements for:


(a) ensuring that all scheme property is clearly identified as scheme property and held separately from property of the responsible entity and property of any other scheme (see paragraph 601FC(1)(i)); and


(b) if the scheme is required to have a compliance committee (see section 601JA) - ensuring that the compliance committee functions properly, including adequate arrangements relating to:


(i) the membership of the committee; and

(ii) how often committee meetings are to be held; and

(iii) the committee's reports and recommendations to the responsible entity; and

(iv) the committee's access to the scheme's accounting records and to the auditor of the scheme's financial statements; and

(v) the committee's access to information that is relevant to the responsible entity's compliance with this Act; and


(c) ensuring that the scheme property is valued at regular intervals appropriate to the nature of the property; and


(d) ensuring that compliance with the plan is audited as required by section 601HG; and


(e) ensuring adequate records of the scheme's operations are kept; and


(f) any other matter prescribed by the regulations.

601HA(2)  [Property to be held by another]  


If:


(a) a registration application is made as a result of a resolution passed under subparagraph 1457(1)(a)(i); and


(b) the resolution included a direction under subsection 1457(1A);

the compliance plan lodged with the application must provide for scheme property to be held by a person other than the responsible entity, or a person that is not related to the responsible entity, as the responsible entity's agent.

[CCH Note: The reference to subparagraph 1457(1)(a)(i) and subsection 1457(1A) is a legislative oversight.]


 



This information is provided by CCH Australia Limited. View the disclaimer and notice of copyright.
Top of page
More information on page