Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 404

404. (1) An investment company shall not purchase, or (after the end of 3
years after it is declared to be an investment company) hold, shares in, or
debentures of:

   (a)  another investment company; or

   (b)  a body corporate that is incorporated in Australia, in an excluded
        Territory, or in New Zealand, and in relation to which an order under
        subsection (2) is in force.

(2) The Commission may, by order published in the Gazette, declare a body
corporate that is engaged primarily in the business of investment in
marketable securities for the purpose of revenue or profit and not for the
purpose of exercising control to be a body corporate to which paragraph (1)
(b) applies.