Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) For the purposes of subsection 1234G(2) of the Act, the money and property of a CCIV may be held by a person other than the CCIV if:
(a) the corporate director of the CCIV is satisfied that the minimum standards in subregulation (2) are met:
(i) for the person; and
(ii) for the period in which the person is engaged to perform the function of holding the money and property of the CCIV; and
(b) the corporate director monitors the person's compliance with the minimum standards during that period; and
(c) the corporate director undertakes a review of the person's compliance with the minimum standards every 13 months starting on the day the person is engaged to perform the function of holding the money and property of the CCIV; and
(d) the corporate director makes available to ASIC, on request, the outcomes of the review.
(2) For the purposes of subregulation (1), the minimum standards for holding the money and property of a CCIV are met for a person and a period if:
(a) during the period, the person has adequate capacity and resources to hold the money and property of the CCIV; and
(b) in the case that the person performs other functions for the CCIV at any time during the period--the person has in place, at that time, adequate arrangements for the management of conflicts of interest that may arise wholly, or partially, in relation to activities undertaken by the person in performing the other functions.