Commonwealth Consolidated Regulations

CORPORATIONS REGULATIONS 2001 - REG 8B.4.10

    For the purposes of subsection   1230R(1) of the Act, a CCIV must not acquir e, in respect of a sub - fund of the CCIV (the acquiring sub - fund ), one or more shares referable to another sub - fund of the CCIV (the issuing sub - fund ) if, at the time of the proposed acquisition, the assets of the issuing sub - fund:

  (a)   directly include; or

  (b)   indirectly include, through one or more interposed sub - funds of the CCIV;

one or more shares referable to the acquiring sub - fund.

Note:   Paragraph   (b) applies if, for example, at the time of the proposed acquisition:

(a)   the assets of the issuing sub - fund include shares referable to sub - fund C of the CCIV; and

(b)   the assets of sub - fund C include shares referable to sub - fund D of the CCIV; and

(c)   the assets of sub - fund D include shares referable to the acquiring sub - fund.

In this example, sub - funds C and D are each interposed sub - funds.