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CORPORATIONS ACT 2001

CHAPTER 5D - LICENSED TRUSTEE COMPANIES    View history reference

PART 5D.2 - POWERS ETC. OF LICENSED TRUSTEE COMPANIES    View history reference

Division 3 - Common funds    View history reference

SECTION 601SCA  COMMON FUNDS OF LICENSED TRUSTEE COMPANIES  

 View history reference

601SCA(1)  [Pooling of estate money]  


A licensed trustee company may, for the purposes of investment, pool together into a fund or funds money (estate money) from 2 or more estates that are administered or managed by the trustee company in the performance of estate management functions.

601SCA(2)  ["common fund"]  


A fund into which money is pooled as mentioned in subsection (1) is a common fund.

Note: A common fund may also be regulated under Chapter 5C (if the fund constitutes a managed investment scheme) but see also section 601SCAA, which deals with any inconsistencies in regulation between the Chapters.

601SCA(3)  [Other money]  


A common fund may also include other money.

601SCA(4)  [Regulations]  


This section has effect subject to regulations made for the purpose of section 601SCC.

Note: For example, the regulations may limit the circumstances in which other money may be pooled together with estate money.


 



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