Document ID: chunk:federal_register_of_legislation:C2025C00185:section:1230h
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 1230H
Character Range: 5106649–5107581

1230H  When a sub‑fund is liquid
 (1) This section applies to a sub‑fund of a CCIV at a time if liquid assets account for at least 80% of the value of the assets of the sub‑fund at that time.
 (2) For the purposes of subsection (1):
 (a) the following are liquid assets unless it is proved that the CCIV cannot reasonably expect to realise them within the period specified in the constitution for satisfying redemptions while the sub‑fund is liquid:
 (i) money in an account or on deposit with a bank;
 (ii) bank accepted bills;
 (iii) marketable securities (as defined in section 9);
 (iv) property of a kind prescribed by regulations made for the purposes of this subparagraph; and
 (b) any other property is a liquid asset if the corporate director reasonably expects that the property can be realised for its market value within the period specified in the constitution for satisfying redemptions while the sub‑fund is liquid.