Circumstances in a CCIV may 1245Q have been made to these rules to apply them at the – pay dividends 1245R sub-fund level. A CCIV is generally prohibited from acquiring shares Requirements to notify ASIC 1245S (or units of shares) in itself. One implication of this about shares rule against self-acquisition is that a sub-fund of a Reductions in share capital and 1246A CCIV cannot acquire shares that are referable to share buy-backs another sub-fund of the CCIV, except under a court order. This prevents one sub-fund from Prohibition on self-acquisition 1246H – in another sub-fund, thereby and control of shares 1246J ‘crossinvesting’ minimising the risk of contagion between the Restrictions on financial – assistance for acquiring shares 1246M A CCIV may only financially assist a person to acquire shares (or units of shares) in a sub-fund in specified circumstances. Refer to Chapter 8 of the explanatory materials for further information. The financial What are a CCIV’s reporting requirements? requirements Only retail CCIVs are subject to 1248 CCIVs. A financial reporting requirements audit requirements CCIV to keep financial records for 1248A wholesale) each sub-fund Some reporting Directors of corporate director to 1248B accommodate have access to financial records a CCIV must Financial reporting, including 1248C – at the subfund half-yearly reports 1248G of the CCIV. This appropriate Financial records to be audited their interest The financial Members to receive relevant 1248L itself and for its financial reports
have been made to these rules to apply them at the sub-fund level. A CCIV is generally prohibited from acquiring shares (or units of shares) in itself. One implication of this rule against self-acquisition is that a sub-fund of a CCIV cannot acquire shares that are referable to another sub-fund of the CCIV, except under a court order. This prevents one sub-fund from ‘crossinvesting’ in another sub-fund, thereby minimising the risk of contagion between the A CCIV may only financially assist a person to acquire shares (or units of shares) in a sub-fund in specified circumstances. Refer to Chapter 8 of the explanatory materials for further information. Circumstances in a CCIV may pay dividends 1245Q – 1245R Requirements to notify ASIC about shares 1245S Reductions in share capital and share buy-backs 1246A Prohibition on self-acquisition and control of shares 1246H – 1246J Restrictions on financial assistance for acquiring shares – 1246M What are a CCIV’s reporting requirements? The financial requirements CCIVs. A audit requirements wholesale) Some reporting accommodate a CCIV must at the subfund of the CCIV. This appropriate their interest The financial itself and for its Only retail CCIVs are subject to financial reporting requirements 1248 CCIV to keep financial records for each sub-fund 1248A Directors of corporate director to have access to financial records 1248B Financial reporting, including half-yearly reports 1248C – 1248G Financial records to be audited Members to receive relevant financial reports 1248L
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