Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) 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.
(2) For the purposes of this Chapter, 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.
(3) A common fund may also include other money.
(4) 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.